Qualified Health Plans ( QHP) can be found in the marketplace. QHP are Health Insurance Policies that have meet the CMS standard for 10 different categories of coverage. Accordingly, the Marketplace determine consumers' eligibility for participation in:
-QHP enrollment through the marketplaces.
-Advanced payments of the premium tax credit.
-Cost-Sharing reductions.
Also, depending on the state in which the consumer resides, the Marketplace may either determine consumers ' eligibility for Medicaid or CHIP, or make an initial assessment of eligibility for those programs and have the State make the final determination.
Tax credits and Cost-Sharing are tools that allow consumers' to reduce their cost of healthcare coverage.
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