I know this must seem simple, but does a hovering character have to soar (i.e. add 1 square to their move) to reach elevated terrain?

No they don't. Hovering will allow you to reach it (without any movement penalty at all) and soaring will actually put you above it even though the figure is in the actual physical elevated square on the map.

Hope this helps.

thanks

never her of elevated and soaring whats the difference?

I really think that you should read the Rulebook. You will find the answers to MOST of your questions there. Then try the FAQ for Both Marvel and DC that will answer MOST of the rest of your questions then if you still need help then do a search of these boards for your questions and MOST of them can be answered and if you STILL have questions feel free to ask away.

You really need to read the rules & PAC card. If you haven't bought a starter you can find them on the wizkids site.