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Health Insurance Exchange
Health Insurance exchange is a government-regulated marketplace for the purchase of insurance plans. This is the place to find Health Insurance plans of different coverage levels. These plans are offered to both individuals and companies. Government-regulated exchanges are designed to bring prices down so that personal and employer-provided insurance is comprehensive and competitive. A Health Insurance exchange is usually sponsored by a federal, state or local government.
Health Insurance exchange is about insurance transparency and accountability, and some experts claim that well-organized insurance exchanges can make markets more efficient, competitive and honest. Health Insurance exchanges tend to provide people with a better range of choices.
The problem is that millions of Americans are employed by companies that offer no Health Insurance benefits. Small companies (those that employ fewer than 100 people) have to pay higher prices for insurance than larger businesses. For them, Health Insurance exchange may be the right solution to apply to. Generally speaking, Health Insurance exchange facilitates Health Insurance coverage to more people.
Health Insurance markets contract with private insurers and offer a public plan option to cover those who obtain coverage through small employers and those without employer coverage.
A Health Insurance exchange is a key component of president Obama’s health reform initiative. As a part of the health reform, this market should be useful for Americans who want to shop for a health care plan, compare prices and benefits, and choose the plan that suits them in the best possible way. All of these plans should include an affordable basic benefit package, including prevention, and protection against very high costs. The important point is that Health Insurance plans should not deny coverage on the basis of a pre-existing medical condition.