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A qualified health plan must cover the essential benefits and health needs, as stated by the respective state. Under Obamacare, every individual had to have a qualified health plan (QHP) or else be fined. However, this rule changed recently, and it is no longer mandatory to have the Obamacare qualified health plan. Here are the requirements of ACA that every health plan has to meet:
- The insurance plan must cover all the essential health benefits like emergency care, doctor’s visit, etc.
- Limit the spending on copays, deductibles, and other out-of-pocket healthcare expenses.
- Have certifications from the state Health Insurance Marketplace.
- Includes providers that are decided by the respective state.
- Meet all the other requirements of Obamacare or ACA.
Moreover, there are four categories into which QHP coverage is categorized and labeled to help consumers compare and choose the right plan. The four coverage levels are – bronze, silver, goal, and platinum.
