Insurance Exchange
Updated: 29 February 2024
What Does Insurance Exchange Mean?
An insurance exchange is a marketplace for insurance, commonly used in health insurance.
By signing the Affordable Care Act, President Obama created an insurance exchange in which people can choose between plans offered by the state government, the federal government, or private insurers. Insurance exchanges are designed to encourage competition.
Insuranceopedia Explains Insurance Exchange
Because of the Affordable Care Act, insurance exchanges are not allowed to deny people coverage due to pre-existing conditions.
The primary benefit of insurance exchanges is that they give consumers the opportunity to choose from many different insurance plans.
Related Definitions
Related Terms
Related Articles
Identity Theft Insurance: Is It Worth the Price?
4 Signs You Need Long-Term Care Insurance
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Related Reading
Revealing the Most And Least Popular U.S. Insurance Companies
What Students Need to Know About Insurance Coverage During Internships
A Roadmap for Students Interested in the Insurance Industry
Strong Identity Verification in the Insurance Sector
How to Avoid Online Insurance Scams
How to Get Into the Insurance Industry With a Finance Degree
