Health Insurance Health care reform: Health insurance exchanges Written by Michelle Megna Michelle Megna Michelle, the former editorial director, insurance, at QuinStreet, is a writer, editor and expert on car insurance and personal finance. Prior to joining QuinStreet, she reported and edited articles on technology, lifestyle, education and government for magazines, websites and major newspapers, including the New York Daily News. | Reviewed by Penny Gusner Penny Gusner Penny is an expert on insurance procedures, rates, policies and claims. She has extensive knowledge of all major insurance lines -- auto, homeowners, life and health insurance. She has been answering consumers’ questions as an analyst for more than 15 years and has been featured in numerous major media outlets, including the Washington Post and Kiplinger’s. | Updated on: September 18, 2015 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Health care reform requires almost everyone to have health insurance in 2016 or face a stiff federal tax penalty. To facilitate that, health insurance exchanges will offer a one-stop shop for health insurance plans. Anyone who can’t get a group health plan at work, or who isn’t eligible for medicare, will be able to buy insurance through an exchange. Individuals may also purchase health insurance outside of the exchanges. Through the health insurance exchanges, either the state exchanges or healthcare.gov, individuals and small businesses can get information about standardized plan benefits and costs, compare competing health plans and purchase coverage. The Affordable Care Act provides money for states to conduct research and determine how to set up and govern their exchange. In the beginning, the health insurance exchanges will be open to individuals and small businesses, but later states may open them up to large employers. About 24 million people will buy their own insurance through the exchanges in 2019, estimates the Congressional Budget Office. Some states might operate just one exchange or set up separate exchanges for different regions. The U.S. Department of Health and Human Services has set up an exchange in any state that has not set up their own exchange. To sell health insurance through an exchange, health plans will have to meet certain requirements, such as providing a sufficient choice of providers and earning accreditation for clinical quality. In addition, they will have to sell a uniform selection of plans, which must include certain benefits defined by the U.S. Department of Health and Human Services and states, and they will have to offer the package at different value levels, which will be priced depending on the percentage of medical bills the insurers pay. Back to the health care reform timeline Michelle MegnaContributor . .Michelle, the former editorial director, insurance, at QuinStreet, is a writer, editor and expert on car insurance and personal finance. Prior to joining QuinStreet, she reported and edited articles on technology, lifestyle, education and government for magazines, websites and major newspapers, including the New York Daily News. Related Articles Can you decline the health insurance plan at work? By Erik Martin How does primary and secondary health insurance work? By Chris Kissell How to get health insurance if you’re unemployed or changing jobs By Shivani Gite How much does COBRA insurance cost? By Les Masterson A complete guide to short-term health insurance By Shivani Gite A guide to understanding your health insurance policy By Mark Vallet ZIP Code Please enter valid ZIP See rates