This report briefly describes some of the key concepts and policy issues around specifying and valuing health insurance benefits. "Actuarial value" is a summary measure of a health insurance plan's benefit generosity. It is expressed as the percentage of medical expenses estimated to be paid by the insurer for a standard population and set of allowed charges. An actuarial value may also be referred to as a "benefit rate." One purpose of an actuarial value is to distill all the benefit and enrollee cost-sharing provisions of a health insurance plan into a single number, for easier comparisons among plans. Source: Congressional Research Service
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