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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How are health plans classified according to the Affordable Care Act?

  1. Standard, Enhanced, Premium, Ultra

  2. Basic, Advanced, Superior, Supreme

  3. Bronze, Silver, Gold, Platinum

  4. Economy, Business, First Class, Elite

The correct answer is: Bronze, Silver, Gold, Platinum

Health plans are classified according to the Affordable Care Act into four categories Bronze, Silver, Gold, and Platinum. These are known as metal levels, and they define the level of coverage that a health plan provides. Option A is incorrect because it lists names that are not affiliated with any specific metal level. Option B is incorrect because it mixes up the order of the metal levels and names them using different adjectives. Option D is incorrect because it uses terms that do not correspond with any of the metal levels. In summary, the Affordable Care Act categorizes health plans into four metal levels: Bronze, Silver, Gold, and Platinum.

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