Idaho Life Producer Exam 2025 – 400 Free Practice Questions to Pass the Exam

The Affordable Care Act (ACA) established a system of health insurance marketplaces that categorize insurance plans into specific levels based on their coverage and cost-sharing structures. The correct classification includes four key levels: Bronze, Silver, Gold, and Platinum.

Bronze plans generally cover about 60% of healthcare costs, meaning enrollees have higher out-of-pocket costs at the time of services. Silver plans cover around 70% of costs, offering a balance between premiums and out-of-pocket expenses. Gold plans provide approximately 80% coverage, resulting in lower out-of-pocket costs but higher monthly premiums. Finally, Platinum plans cover roughly 90% of healthcare expenses, leading to the highest premiums but least out-of-pocket spending for the insured.

This tiered approach helps consumers understand the trade-offs between premium costs and out-of-pocket expenses and allows them to choose a plan that best fits their financial situations and healthcare needs. The other options do not represent the classifications established by the ACA, making them incorrect in this context.

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