A qualified health plan (QHP) is best defined as a health plan that:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under the ACA, a qualified health plan is a health insurance plan that has been certified by a state or federal health benefit exchange to be offered in the individual and small group markets. Certification requires the plan to meet standards for benefit design, including coverage of essential health benefits, network adequacy, cost-sharing and actuarial value requirements, marketing practices, and rate filing. QHPs are the products sold through the marketplace, and only exchange-certified coverage makes the purchaser eligible for premium tax credits. The certification process is the mechanism that ensures marketplace plans meet federal quality and consumer protection standards.
Why the other options are wrong
- B) QHPs are sold in the individual and small group markets through exchanges; they are not limited to large employers.
- C) QHPs are subject to the full range of ACA consumer protections; certification is what enforces compliance with those rules.
- D) Catastrophic-only coverage is a narrow plan category, not the definition of a QHP, which must cover the EHB package.
Memory hook
QHP = the exchange's stamp of approval: certified, EHB-covered, and rate-filed.