What is a Qualified Health Plan (QHP)?

A Qualified Health Plan (QHP) is defined as a health insurance plan that meets the standards and requirements set forth by the Affordable Care Act (ACA) and is certified to be offered through the Federally-facilitated Marketplace (FFM). For a plan to be considered a QHP, it must provide essential health benefits, limit cost-sharing (like deductibles and copayments), and adhere to specific rules regarding premiums and network adequacy. This ensures that consumers have access to a variety of health insurance options that maintain a certain quality and coverage level.

Understanding what constitutes a QHP is essential for individuals seeking health insurance through the marketplace, as it guarantees that the plans available meet minimum standards and provide robust coverage options. This builds consumer confidence and protects individuals against inadequate insurance coverage.

The other choices do not accurately capture the definition of a QHP. For example, health insurance specific to large employers or government-sponsored plans are not necessarily subject to the requirements of the ACA or certified under the FFM framework, which focuses specifically on individual and small group markets. Additionally, plans tailored exclusively for low-income individuals fall under different categories and programs, such as Medicaid, which do not align with the broader criteria established for a Qualified Health Plan.