The Mandated "Bronze" Policy on The Exchange will only cover 60% of the actual Health Care Cost?

[WorseBeforeBetter]

74. Bronze 1 & 2 single coverage deductibles = $4,375 - $3,475

Single Coverage (Deductibles and out-of-pocket limits would be double these amounts for families)

Tier          Actuarial Value   Deductible   Patient Coinsurance   Out-of-Pocket Cost-sharing Limit
Bronze 1    60%                   $4,375            20%                           $6,350
Bronze 2    60%                   $3,475            40%                           $6,350
Silver 1     70%                    $2,050            20%             &nbsp&nbsp&nbsp&nbsp         $6,350
Silver 2     70%                    $650               40%                      &nbsp&nbsp&nbsp&nbsp$6,350


Actuarial value = the percentage of covered heath care costs expected to be paid by the plan for a broad population.

Non-group and small group markets must have an actuarial value of:

-- 60 percent (bronze plans)
-- 70 percent (silver plans)
-- 80 percent (gold plans)
-- 90 percent (platinum plans)

"A bronze plan on average would pay for 60 percent of the costs for covered benefits and enrollees on average would pay the remaining 40 percent through cost-sharing such as deductibles, copayments and coinsurance.

Silver plans are likely to be the most common level of coverage because premium tax credits are based on silver plan premiums and only people enrolled in silver plans will be eligible for cost-sharing subsidies.

This means that for most services covered by the plan under these designs, the patient would pay all of the cost until the deductible is reached, and either 20 percent or 40 percent (depending on the option) of any additional costs until total patient cost-sharing reaches the out-of-pocket limit.

However, the minimum coverage people will be required to buy starting in 2014 will have much higher cost-sharing than typical employer-based coverage and than the average purchased now in the non-group market. With standard 20 percent coinsurance, a bronze plan would have an estimated deductible of $4,375 for a single individual and double that for a family. This compares with an average single deductible of $2,498 in 2010 in the non-group market and an average of $675 in employer-sponsored PPO plans with deductibles in 2011. Deductibles in employer plans paired with tax-preferred savings accounts averaged $1,908 in 2011.

People will have the option of buying more generous coverage than the minimum required, and lower-income enrollees will be eligible for cost-sharing subsidies that decrease their out-of-pocket costs. But, some may still find themselves with insurance that requires substantial cost-sharing. Policymakers will face the challenge over time of finding the right balance between the minimum level of insurance people should be required to have and providing an appropriate level of protection."

http://www.kff.org/healthreform/upload/8303.pdf

.........

Clear as mud. And none of the above even factors in the cost of buying the insurance. LOL