What defines a Qualified Health Plan (QHP)?

A Qualified Health Plan (QHP) is defined as a plan that has passed a federal certification process, which ensures that it meets the requirements set forth by the Affordable Care Act (ACA). This certification process includes standards related to essential health benefits, limits on cost-sharing, and other consumer protections that are designed to provide comprehensive health coverage to individuals and families. QHPs are typically offered through health insurance marketplaces where consumers can compare plans and find coverage that meets their needs.

The other options do not encompass the comprehensive nature and regulatory structure that defines a QHP. For example, a plan providing only emergency services would not meet the essential health benefits standard required for QHP certification. Similarly, low-cost insurance policies offered outside the Marketplace may not adhere to the same standards, and short-term health insurance plans often provide limited benefits that do not qualify as comprehensive coverage under QHP guidelines. Thus, the certification process is crucial in distinguishing QHPs from other types of health plans, ensuring that they provide robust coverage to consumers.