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Silver Plan

The second lowest actuarial level health plans available through the insurance exchanges, equal to a 70 percent actuarial value. An individual’s subsidy is based on the second lowest cost silver plan in their region. Bronze, Gold, and Platinum plans offer varying actuarial values.

Redetermination

The process wherein individuals that are currently enrolled in an exchange plan (either state or federal) must re-establish their eligibility on an annual basis.