What is the purpose of a Qualified Health Plan (QHP)?

A Qualified Health Plan (QHP) is specifically designed to comply with the standards set forth by the Affordable Care Act (ACA). The primary purpose of a QHP is to ensure that individuals receive comprehensive healthcare coverage that includes essential health benefits. These essential health benefits encompass a range of services including preventive care, hospitalization, prescription medications, maternity and newborn care, mental health and substance use disorder services, and pediatric services among others.

By meeting ACA standards, QHPs are required to cover these essential health benefits and are also mandated to follow specific regulations regarding cost-sharing, lifetime limits, and annual limits on coverage. This structure aims to provide consumers with reliable access to healthcare services, ensuring that insurance policies do not discriminate against those with pre-existing conditions and that they provide adequate coverage.

In contrast, other options suggest limitations or exclusions that do not align with the intent and requirements of QHPs as outlined by the ACA. These distinctions underscore the importance of QHPs in promoting broader access to necessary healthcare services for all individuals.