What type of health insurance plans are sold on the federal marketplace?

Qualified Health Plans (QHP) are the type of health insurance plans sold on the federal marketplace. These plans meet specific criteria established under the Affordable Care Act (ACA) and are designed to provide essential health benefits, leaving consumers with protections such as prohibiting denial of coverage based on pre-existing conditions. QHPs also come with specific cost-sharing mechanisms and standardize coverage levels to ensure that individuals and families have access to affordable healthcare options.

The federal marketplace, also known as the Health Insurance Marketplace, allows consumers to compare and purchase these QHPs during open enrollment periods or in certain qualifying situations. This platform is essential for individuals who do not have access to employer-sponsored insurance or government programs like Medicare, which are not available through the marketplace.