A Qualified Health Plan (QHP) is an insurance plan certified by the Health Insurance Marketplace, providing essential health benefits, following established limits on cost-sharing (like deductibles and co-pays), and meeting other specific requirements. QHPs are designed to ensure that individuals have access to necessary healthcare services with adequate financial protections.

Qualified Health Plan

Insurance plan

Health Insurance Marketplace

Essential Health Benefits

Cost-sharing is a financial arrangement where the costs of a service or product are divided among multiple parties, often to reduce the burden on any single entity. This is commonly used in healthcare, insurance, and public finance to promote access and affordability while managing risk and resources efficiently.

Cost-sharing

A deductible is the amount a policyholder must pay out of pocket before an insurance company pays a claim. It serves as a risk-sharing mechanism to prevent minor claims and reduce moral hazard by incentivizing policyholders to avoid unnecessary expenses.

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