Health insurance exchange Introduction: Health insurance can be defined as insurance coverage that makes payment against the surgical, medical and dental expenses of the insured. Selection of health insurance can be a bit tricky due to existence of plan rules such as co-pays, deductibles, network service and so on. Health insurance exchange act as the central mechanism which is established by health reform to provide assistance to small business and individual to buy insurance coverage for their health .This exchange offers an online portal which provides information about enrollment capability for health insurance and plan choices. There are two types of health insurance exchange viz. private exchange and public exchange. A private exchange is operated and sponsored by private business or entity. A public exchange is operated and sponsored by the federal and state government. Health insurance exchange comprises of a wide range of health care plans from which insurance can be purchased by people in U.S that is eligible for subsidies by the federal government. The state government in the U.S. has made it mandatory to purchase a qualified health plan from health insurance exchange to cover expenses associated with heath care.

6th Edition

ISBN: 9781567937428

Author: Gapenski

Publisher: YUZU

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Solution Summary: The author explains that health insurance exchange is the central mechanism established by health reform to provide assistance to small business and individual to buy insurance coverage for their health.