insurance

What is a health insurance exchange?

 

What is a health insurance exchange?

The Bankrate.com financial term of the day is: "Health Insurance Exchange."

A health insurance exchange is an online health insurance marketplace required for each state and the District of Columbia under health care reform. The exchanges are supposed to make it easy for individuals and small businesses to compare health plans and find coverage that fits their budget.

Your state's health insurance exchange may be operated by the state or by the federal government. You can use the exchange to shop for a plan and see if you are eligible for a federal tax subsidy to help pay your premium or if you qualify for a government safety-net program such as Medicaid.

To get an insurance quote, visit the Insurance section at Bankrate.com.

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