Minimum value

A standard of minimum coverage that applies to job-based health plans. If your employer’s plan meets this standard and is considered “affordable,” you won’t be eligible for a premium tax credit if you buy a Marketplace insurance plan instead. A health plan meets the minimum value standard if both of these apply, it’s designed to pay at least 60% of the total cost of medical services for a standard population. Its benefits include substantial coverage of physician and inpatient hospital services to find out if your job-based plan meets the minimum value standard, ask your employer.