As per the ACA mandates, the state health exchanges are taking shape and soon, they will be providing an easier and more affordable form of health care enrollment. Among the many mandates that will govern the ACA marketplace, a few have managed to create quite a stir among the people, engaging their interest. The first among these is the metal tier system for all the health plans that meet the exchange eligibility conditions. In accordance with this system, all the health plans will be categorized across four, metal tiers, i.e. platinum, gold, silver and bronze. While the bronze health plans represent the lowest premiums, the platinum health plans represent the highest amount of premiums.
ACA Metal Plan: Platinum Plan
Platinum Plans represent the highest range of spectrum among the exchange health plans. These plans will account for the maximum amount of premiums as compared to the bronze metal plan. This will also mean the lowest amount of out-of-pocket expenses for the insured. However, out-of-pocket expenses here represent a collective entity. This includes the deductibles and copayments and any of these could be higher across different platinum health plans. Platinum Plans are deemed to cover 90% of the healthcare expenses borne by the insured.
Insurance companies that meet the exchange eligibility conditions have the option of launching a Platinum plan, i.e. they are not obligated to do so. The mandate requires that all insurers should offer a Silver Plan and Gold Plan. Platinum health plans offer the same set of essential health benefits when compared with Bronze, Silver or Gold Plans. Extra benefits can be added for extra premium as per the preference of the subscriber.