Which of the following is a major requirement for health insurance companies under the ACA?

The Affordable Care Act (ACA) mandates several provisions aimed at making health insurance more accessible and understandable for consumers. One significant requirement is that health insurance companies must provide a standardized Summary of Benefits and Coverage (SBC) to all applicants. This summary is designed to help consumers compare different health plans easily by outlining key features, benefits, and coverage details in a clear and consistent format.

This requirement enhances transparency and allows individuals to make informed choices regarding their health insurance options. The SBC must include important information such as covered benefits, cost-sharing requirements, and limitations or exclusions, making it easier for consumers to understand what is offered under different plans.

In contrast, the other options listed do not align with the ACA's goals. For instance, the ACA prohibits lifetime limits on coverage and ensures that individuals cannot be charged higher premiums based on pre-existing conditions. Furthermore, while advertising regulations do exist, the ACA does not specifically require restrictions on how insurance plans are advertised. Thus, offering a standardized Summary of Benefits and Coverage is a core requirement that aligns with the ACA's objectives of improving consumer understanding and access to health insurance.