Health Insurance Basics
What is minimum value in health insurance?
Minimum value is an ACA standard that requires employer-sponsored health plans to cover at least 60% of the total allowed costs of benefits. Plans that meet the minimum value standard are considered to provide adequate coverage. If your employer's plan does not meet minimum value, you may be eligible for a premium tax credit.
Key Points
- Minimum value: employer plan must cover at least 60% of total allowed costs
- Plans meeting minimum value: considered to provide adequate coverage
- If employer plan does not meet minimum value: may be eligible for premium tax credit
- ACA requirement for employer-sponsored plans
- An independent agent can help you evaluate your employer's plan