A standard applied to employer-sponsored health insurance to determine if it meets the requirements to be considered Minimum Essential Coverage (MEC). If your employer offers you a plan that meets this standard and is considered affordable, you won't be eligible for premium tax credits or cost-sharing reductions if you choose to enroll in coverage through Get Covered Illinois.
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, make sure to ask your employer.