Ohio Insurance Laws and Regulations Practice Exam

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Prepare for the Ohio Insurance Laws and Regulations Exam. Dive into essential topics with detailed practice questions designed to enhance your knowledge and readiness. Ace your exam and ensure your success in the insurance field!

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As classified by the Affordable Care Act (ACA), what does a Silver Plan offer?

  1. 60% actuarial level of coverage provided

  2. 70% actuarial level of coverage provided

  3. 80% actuarial level of coverage provided

  4. 90% actuarial level of coverage provided

The correct answer is: 70% actuarial level of coverage provided

A Silver Plan under the Affordable Care Act offers 70% actuarial level of coverage. This means that on average, the plan will cover 70% of the cost of covered medical expenses for a standard population. This option is incorrect because it offers less coverage than a Silver Plan. Option A is incorrect because it offers less coverage than a Silver Plan. Option C is incorrect because it offers more coverage than a Silver Plan. Option D is incorrect because it offers more coverage than a Silver Plan.

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