There are four types of plans offered in the Marketplace: Bronze, Silver, Gold, and Platinum. The plans are defined by their actuarial value, which is the average percentage of health care expenses that are covered by the plan. As the actuarial value increases, the plan will pay more towards your health care expenses and lower your out-of-pocket costs for things like deductibles, coinsurance, and copayments.
The drawback of plans that cover more health care and out-of-pocket expenses is a higher monthly premium.
Exact percentages will vary by state, but on average a Bronze plan will cover 60% of covered medical expenses and your share will be the remaining 40%. The actuarial value of each plan is shown to the left.
40% - You have the highest “out of pocket” costs for medical care. But you pay the least in premium.
30% - Spread costs out more and is a great middle of the road plan. Premiums are higher than a Bronze plan but costs will be less when receiving medical care.
20% - With a gold plan, medical costs are lower than with a Bronze or Silver plan but the premiums are higher.
10% - You have the lowest “out of pocket” costs for medical care. But you pay the highest in premium.