What is a qualified health plan?
A qualified health plan is one that has limits on cost sharing (e.g. deductibles, out-of-pocket maximums, copayments, etc.), provides the appropriate level of coverage by including the minimum essential coverage, and meets other requirements as determined by the Affordable Care Act, otherwise known as Obamacare. A qualified health plan must also be certified by the Health Insurance Marketplace. To avoid paying the health insurance penalty, a person must be covered by a qualified health plan.