This refers to a specific health insurance plan offered by Blue Shield. It’s a Silver-tier plan with a 94% actuarial value, structured as a Preferred Provider Organization (PPO). In practice, this means individuals have access to a network of healthcare providers and may also seek care outside of the network, typically at a higher cost. The “94” likely signifies the percentage of healthcare costs the plan is designed to cover on average for a standard population.
The significance of this type of health plan lies in its balance of monthly premiums and out-of-pocket expenses. Silver plans, in general, are designed to offer moderate monthly premiums and moderate costs when healthcare services are used. Historically, these plans have been a popular choice for individuals seeking a middle-ground option. The PPO structure provides flexibility in choosing healthcare providers, which can be a crucial benefit for individuals who value choice and convenience.