Aug 13
2020
What’s The Difference Between State, Federal, and Private Health Insurance Marketplaces?
While most people get their health insurance from their spouses, jobs, or school, self-employed or unemployed individuals have to rely on the health insurance marketplace to purchase a policy that suits their lifestyle and income. Government and privately-managed marketplaces provide an easy way for individuals to compare various quotes, review different plans without making phone calls, and find answers to multiple questions.
A health marketplace is a useful tool that serves small businesses, families, and individuals. Through this resource, you can enroll in a plan that suits your healthcare needs and detects valuable tax credits.
Public vs. private marketplaces
Either the federal government or state governments manage the public medical insurance marketplace, while private companies run private exchanges. While government exchanges are usually limited to qualified health plans (i.e. ACA-compliant plans), private exchanges have more flexibility to offer non-qualified plans that may be more cost-effective.
For example, compare healthcare.gov versus a private exchange like AHiX Marketplace. The former only offers ACA-compliant plans, while the latter offers all of those plans in addition to cheaper short-term or limited coverage plans. So if full coverage isn’t your primary concern and you’re mostly interested in saving money, you can find affordable health insurance at AHiX Marketplace and other private healthcare exchanges like it.
Private health marketplace
Private exchanges provide a wide variety of options, so you can receive valuable insight into different coverage types before committing to a plan. Using these private health marketplaces, you can find affordable policies with extensive coverage.