What defines a qualified health plan (QHP)?

A qualified health plan (QHP) is defined by its adherence to the requirements set forth by the Affordable Care Act (ACA). These requirements ensure that the plan provides a comprehensive range of essential health benefits, which include items such as preventive services, maternity care, mental health services, and prescription drug coverage. Additionally, QHPs must comply with consumer protection standards, such as limiting out-of-pocket expenses, prohibiting discrimination based on pre-existing conditions, and ensuring renewability.

This definition underscores the importance of consumer rights and comprehensive coverage in the healthcare market. The other choices do not capture the full scope of what constitutes a QHP. While affordability is a factor in selecting a plan, being the cheapest option does not guarantee that a plan meets ACA standards. Similarly, limiting coverage to only vision and dental services does not satisfy the requirement for essential health benefits. Lastly, tying health plan qualification to specific income levels diverges from the broader criteria established by the ACA that focus on a plan's benefits and protections rather than the individual's income status.