What defines a "Qualified Health Plan" (QHP)?

A "Qualified Health Plan" (QHP) is defined as a health insurance plan that meets the standards established by the Affordable Care Act (ACA), which includes covering essential health benefits. Essential health benefits encompass a comprehensive range of healthcare services necessary for a plan to be considered adequate for individuals and families. These benefits include, but are not limited to, services in areas like emergency care, maternity and newborn care, mental health and substance use disorder services, prescription drugs, and preventive and wellness services.

Additionally, QHPs must adhere to specific criteria regarding cost-sharing, network adequacy, and marketing practices. By aligning with these regulatory requirements, QHPs ensure that consumers receive a baseline level of coverage that promotes access to necessary health services without exorbitant out-of-pocket costs.

The other options do not accurately define a QHP. For instance, a plan covering only emergency services would not meet the essential health benefits criteria. A low-cost insurance option specifically for young adults might suggest a targeted plan, but it does not address the comprehensive framework of what constitutes a QHP. Lastly, the notion that a plan offered exclusively through private companies would define a QHP overlooks the fact that QHPs can also be provided by certain public entities, as