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Sedbober [7]
1 year ago
8

The lower the actuarial value of your health insurance plan, the ____________ your monthly premium.

Social Studies
1 answer:
kicyunya [14]1 year ago
3 0

Premiums and policy values ​​tend to be correlated. Products with a wide range of benefits, low cost sharing at the time of payment, and high actuarial value tend to have high insurance premiums.

<h3>What is actuarial Value? </h3>

The percentage of the average total cost for covered services that is covered by the plan. For example, if your plan has an average actuarial value of 70%, you will cover 30% of the cost of all benefits.

<h3>How do actuaries evaluate health insurance?</h3>

This is calculated using medical claims from a standard population along with the plan's copay provisions to simulate claim payments. The commission percentage paid by the scheme is the actuarial value.

<h3>What is monthly bonus (premium)?</h3>

This is the monthly payment for health insurance. In addition to premiums, you will usually have to pay medical expenses, including deductibles, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to take advantage of a benefit tax credit to reduce your costs.

To learn more about actuarial value visit:

brainly.com/question/13147575

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