Question

The Affordable Care Act is expected to help increase access to health care. Health insurance exchanges will be an important part of that. Most people get health insurance through their employers. But people without this option will now be able to shop for health insurance on exchanges, as an alternative to buying coverage directly from individual health insurers. Exchanges are new and easy to use. Experts predict that by 2016, more than 25 million people will use exchanges to buy health insurance. Doing an online search discuss the following:

What are these exchanges? How are they supposed to work? How will things change? And why is this important?

Answer 1

What are these exchanges?

• These exchanges are meant for buying insurance policies online.

How are they supposed to work?

• Generally, These exchanges open in November each year. And these exchanges are run by the state and Federal governments.

How will things change?

• These exchanges have been opened under the Obamacare and make mandatory to each individual to take insurance policy.
• It will make people secure relatively and vulnerability would get reduced.
• Insurance premium will go down if people in bulk subscribe to these policies.

And why is this important?

• Before taking insurance policies, individuals can compare different insurance policies offered.
• People are eligible for subsidies through these insurance exchanges.