What are the four categories of health plans offered in the FFM?

The four categories of health plans offered in the Federally-facilitated Marketplace (FFM) are Bronze, Silver, Gold, and Platinum. Each category corresponds to how costs are shared between the insurance provider and the insured, primarily focusing on the level of coverage and the out-of-pocket expenses individuals may encounter.

Bronze plans typically cover about 60% of healthcare costs, offering a lower monthly premium but higher cost-sharing. Silver plans provide more comprehensive coverage with an estimated 70% of costs covered. Gold plans, designed for those who expect to utilize more healthcare, cover approximately 80% of costs, while Platinum plans have the highest level of coverage at around 90%, but often come with higher premiums.

This structured categorization helps consumers easily compare their options based on their healthcare needs and financial situations, significantly influencing their decision-making process when selecting a health insurance plan. The names of the other options do not align with the standardized categories as defined by the Affordable Care Act, which ensures that consumers have a clear framework for evaluating their health insurance choices.