Briefly describe two (2) critical functions that Health Insurance Exchanges/Marketplaces perform.

Briefly describe two (2) critical functions that Health Insurance Exchanges/Marketplaces perform.

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Expert Solution

The two critical functions that are performed by the health insurance exchange marketplace are as follows :

Health insurance marketplaces play a key role in implementing regulatory standards, by imposing stringent regulatory requirements for the insurance issuers as well as the buyers.They help in standardizing the various insurance products provided by the insurance players in the market.
Health insurance exchanges play a vital role in determining the eligibility and provides a platform for consumers to choose plans that fits their budget and requirements.The exchanges help in fixing the price and assigns a quality rating for various plans provided by the insurers.

keosha answered 1 year ago

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