A health insurance exchange is an organized marketplace for the purchase of health insurance set up as a governmental or quasi-governmental entity to help insurers comply with consumer protections, compete in cost-efficient ways, and to facilitate the expansion of insurance coverage to more people.
The health care reform is going to create state based health insurance exchanges. These health insurance exchanges should have guaranteed issue policies. This means that no US citizen should be declined coverage.
- There should be multiple plan designs to choose from within the exchange.
- At this time we can only estimate the cost.
- At this time we do not know which carriers are going to participate.
- At this time we do not know if brokers will be able to sell the exchange plan.
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