The term “minimum value” means that your job-based plan would cover at least 60% of an average group of people’s covered health costs. In addition, employer plans must provide substantial coverage for hospitalization and for physician care to meet the “minimum value” test. Most employer plans will meet this test, but some may not.

You can apply for coverage in the Marketplace and you may qualify for premium tax credits if your employer plan doesn’t meet the Affordable Care Act’s standard for minimum value. This is met if a plan covers at least 60% of covered services for an average population.

The limited benefit plan you described probably does not meet the standard for “minimum value.” If that were the only plan your employer offered, you could qualify for premium tax credits to help pay for Marketplace coverage. The premium tax credits could help you afford coverage that would be more comprehensive.

No, just being eligible for COBRA doesn’t affect your eligibility for premium tax credits or cost-sharing reductions if you enroll in a Marketplace plan.

Yes, you can leave your employer-sponsored plan and get Marketplace coverage, but your eligibility for premium tax credits depends on how much you must pay for premiums for your employer plan. If your premium contribution with the wellness penalty would be more than 9.