Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
It's a website marketplace where individuals and small groups can shop for and buy their health insurance plans. Each state had the option of implementing their own state-run exchange or let the federal government handle a state's health insurance exchange.
You can also use the exchanges to help you determine whether or not you qualify for a subsidy that can help you lower the cost of your insurance premiums or if you are eligible for Medicaid.
Even though you CAN do it on your own, it's always advisable to consult with an experienced health insurance broker who can guide you through the process and make sure everything is in good order and that your coverage is in force (a critical point considering all of the technical issues people have encountered with the roll-out of the new programs). There is a ton of information to sift through and comparing plans can be very difficult and time consuming.
I hope the information is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.
That is an excellent question! The federal Health Insurance Exchange is the name for the website www.healthcare.gov that was created by the Affordable Care Act ( Obamacare). The exchange is a marketplace where various companies listed the health insurance policies that they were willing to offer. These companies also marketed them outside of the exchange, and others as well. The advantage of going to the exchange to shop is that the Government offers financial help to those who qualify (and a lot of people do) and often dramatically reduces the cost of the coverage. I have helped people find policies to cover both health and dental for a total of $41 per month, coverage that for health alone was $134 per month outside the exchange. I hope that helps, thanks for asking!
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You can also use the exchanges to help you determine whether or not you qualify for a subsidy that can help you lower the cost of your insurance premiums or if you are eligible for Medicaid.
Even though you CAN do it on your own, it's always advisable to consult with an experienced health insurance broker who can guide you through the process and make sure everything is in good order and that your coverage is in force (a critical point considering all of the technical issues people have encountered with the roll-out of the new programs). There is a ton of information to sift through and comparing plans can be very difficult and time consuming.
I hope the information is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.