Health insurance exchanges (also known as health insurance marketplaces) will provide individuals and small businesses access to:
An online marketplace of Affordable Care Act bronze, silver, gold or platinum health insurance options (sometimes referred to as metal plans)
“Catastrophic” health plans available to individuals up to age 30 who cannot afford a metal plan
Premium subsidies and medical cost-sharing reductions for individuals & families with qualifying income levels
Not every health insurance plan will be available on an exchange. Some exchanges (e.g. New Hampshire and Connecticut) will have very limited health insurance options. Other exchanges (e.g. Oregon) will have many options.
Some health plans will only be available outside the exchange. These are known as “off exchange” health plans. Depending on the state, some off-exchange plans will have more competitive premiums than the health plans available on the exchange. However, people eligible for subsidies can only receive premium subsidies for a health plan sold on an exchange.
Because plans from many different insurers can be reviewed at once, the exchanges are intended to promote price competition.
Ready to obtain the right health insurance? Check your eligibility for free or low cost health insurance through the marketplace in 4 simple steps...