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 qualify 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 populationIts benefits include substantial coverage of physician and inpatient hospital servicesTo find out if your job-based plan meets the minimum value standard, ask your employer. You can also ask them to fill out the Employer Coverage Tool (PDF, 157 KB).Related contentGet tips before accepting job-based coverageHow to know if a plan is considered “affordable”In 2024, a job-based health plan is considered "affordable" if your share of the monthly premium in the lowest-cost plan offered by the employer is less than 8.39% of your household income.Refer to glossary for more details.