A plan meets the minimum value (MV) requirement if it has an actuarial value of at least 60%. This means that the plan pays for at least 60% of the total cost of covered benefits. See additional information below.
The ACA requires Individual and Family Plans (IFP) and Small Group plans to adopt metal tiers, according to their actuarial value, as follows:
| Metal Tier Name | Actuarial Value |
|---|---|
| Platinum | Plan pays 90% of the costs for covered benefits in-network (Higher premiums, lower out-of-pocket costs) |
| Gold | Plan pays 80% of the costs for covered benefits in-network |
| Silver | Plan pays 70% of the costs for covered benefits in-network |
| Bronze | Plan pays 60% of the costs for covered benefits in-network (lower premiums, higher out-of-pocket costs) |