Articles >> What is a Health Insurance Exchange?

The health reform acts that President Obama signed into law in March 2010 called for the creation of health insurance exchanges. These health insurance exchanges are meant to provide consumers with a one-stop market where they can find information about health plans, learn about health insurance policies, and be able to quickly apply and enroll in a health insurance plan.

When the law was signed into effect, there were only a few health insurance exchanges already in effect. These were in Massachusetts, New York, and Utah. Two other states had attempted to have health insurance exchanges, but these failed in that they did not serve the function and purpose they were meant to serve. However, now the states are all implementing the health insurance exchanges and the federal government is regulating them to make sure that they work as intended.

In Georgia, you can get a lot of information on health plans at georgiahealthinfo.com. This web portal serves as health insurance exchanges in that it provides information that consumers might need about health insurance and health plans. There is also information about health insurance vocabulary, government-subsidized alternatives for those with financial need, and lists of other important resources. These are some of the things that health insurance exchanges are supposed to do for consumers.

The regulations demand that health insurance exchanges be written in simple, easy to understand language, and provide objective and impartial information about health plans. Some people have stated that search results or health plan information should be delivered in a random manner so as to not give preferential results to certain health plans based on alphabetical order. A secondary purpose of health insurance exchanges is to provide accountability and transparency to the health insurance industry. Providing objective and unbiased information about health insurance is an important part of achieving that secondary purpose.

Successful health insurance exchanges will help consumers find the information they are looking for when they are shopping around for health insurance plans. In a few years, American citizens will be taxed or charged penalties if they are not enrolled in a health insurance plan. Therefore, many Americans are already relying on health insurance exchanges for comparison shopping, and perhaps just to be educated on the health insurance world. It is important that consumers be prepared with knowledge and information when they go to shop for a health insurance plan. Health insurance exchanges can certainly help with that mission.

In Georgia, health insurance exchanges provide information about other places to go for help, such as the Centers for Medicare and Medicaid Services, the Georgia Department of Human Resources, and the Georgia Department of Community Health.

Be aware that what health insurance exchanges do for consumers is similar to the function that an educated insurance broker serves. Both will provide you with the information you need to make an educated decision about your health insurance plan. Some people may prefer the personal customer service that a broker will offer, while others want to just read about health insurance plans on health insurance exchanges.