The Affordable Care Act ensures that all qualifying health plans cover what are known as the "10 Essential Health Benefits," and that they have an "actuarial value" of 60% or more. But what does that mean?
Actuarial Value - The actuarial value of a plan refers to the percentage of total average costs that the insurance plan will pay. This means that if your plan has an actuarial value of 60%, the insurer will pay an average of 60% of covered medical costs, until you reach the out-of-pocket limit.
As an employer, one of the best ways to keep the long-term costs of your health-related expenditures down is through preventative care; that is, keeping your employees safe and healthy. The following are the essential preventative care services covered as part of 'minimum essential coverage'.