What Are Health Insurance Marketplaces and Exchanges?
Health insurance marketplaces or exchanges are services that enable enrollment in health insurance plans through a public or private forum. These forums are accessible through multiple portals and websites.
Oklahoma Private Exchanges vs Public Exchanges
The private exchange is designed to be used by employers to allow employees to enroll in a pre-selected company health insurance plan. The private exchange is also where individuals and small businesses shop and enroll for coverage during the open enrollment window. Consulting firms or brokers typically run the private exchange utilized by an employer.
The following carriers are available on the private exchange:
- Blue Cross and Blue Shield of Oklahoma
- UnitedHealthcare Life Insurance Company
- CommunityCare of Oklahoma
The public exchange for Oklahoma is run by the Department of Health and Human Services (HHS), at the federal level, after much opposition from the state government officials who decided not to run a state-based marketplace when Obamacare was passed and to not market it to the public. When using the public exchange, your application will also verify if you qualify for Medicaid, CHIP, or other discounts based on income level.
This year, there will only be option on the public exchange: Blue Cross Blue Shield of Oklahoma
Oklahoma Marketplace and Exchange Resources