What is a "health insurance exchange"?

A "health insurance exchange" refers to a marketplace where individuals, families, and small businesses can compare and purchase health insurance plans. These exchanges were established under the Affordable Care Act (ACA) to facilitate access to healthcare coverage, particularly for those who may not have it through their employer. They allow consumers to explore various plans side-by-side, understand the benefits and costs associated with each, and enroll in a policy that best meets their healthcare needs and budget.

In addition, health insurance exchanges can also provide information about available subsidies or financial assistance programs, making it easier for people to afford coverage. This means that they play a crucial role in expanding health insurance access and improving the overall insured population.