Health Insurance Exchanges ( Hix )

2244 Words Apr 12th, 2016 9 Pages
HEALTH INSURANCE EXCHANGES

Health insurance exchanges (HIX) are the marketplaces which are established based on the Affordable Care Act provides customers at an individual level or to small businesses, health insurance which they can compare and purchase from private insurance companies. Individuals can make use of the state level exchange depending on one’s state residence or can purchase insurance from a federally facilitated exchange which is accessible at Healthcare.gov website. (1)
Affordable Care Act requires every state to either operate their state exchange or use federally facilitated exchange to provide affordable healthcare coverage to individuals and small businesses as a means to increase the access to health insurance by 1st January, 2014(2). Based on the operation of the exchange either at a state level or federal level there are four types of marketplace levels which are state based exchanges, Federally supported state based exchanges, state partnership exchanges, federally facilitated exchanges. At present 13 states use their own state based marketplace, 27 states use federally facilitated exchanges, 7 states operate exchanges through state- federal partnership exchanges and 3 states who operate under state based marketplace by taking assistance from the federal government by utilizing federal IT support.(1) U.S Department of Health and Human Services (HHS) will assist in operating the Federally Facilitated exchanges and those state exchanges…

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