In health insurance, what does the term "metal tier" refer to?

The term "metal tier" in health insurance is related to the level of coverage and out-of-pocket costs associated with various health insurance plans. Health plans offered through the Marketplace are categorized into four metal tiers: bronze, silver, gold, and platinum. Each tier indicates a different balance between premiums and expected healthcare costs, with bronze offering lower premiums and higher out-of-pocket costs, while platinum provides higher premiums with lower out-of-pocket expenses.

This classification helps consumers compare plans based on their financial needs and healthcare usage, making it easier to choose a plan that fits their situation. Understanding metal tiers is crucial for agents and brokers to effectively guide clients in selecting suitable coverage options based on their healthcare needs, budget, and preferences.