The four levels are bronze, silver, gold and platinum, also called metal levels. Bronze plans typically offer the lowest premiums, but generally have higher out-of-pocket costs, such as deductibles, copays, coinsurance and out-of-pocket maximums. Platinum plans generally have the highest premiums but lowest out-of-pocket costs. When choosing a plan, consider the needs of the employees in terms of paying for out-of-pocket costs as well as the premium costs. You should also consider the needs of the business or nonprofit organization, including finances and competition for employees.
Average coverage of health care costs:
$ Bronze: Health plan pays 60%. Employee pays 40%.
$$ Silver: Health plan pays 70%. Employee pays 30%.
$$$ Gold: Health plan pays 80%. Employee pays 20%.
$$$$ Platinum: Health plan pays 90%. Employee pays 10%.