What is “marketplace insurance”?

Marketplace insurance refers to health insurance plans that are available for purchase through state or federal exchanges, commonly known as health insurance marketplaces. Established under the Affordable Care Act (ACA), these exchanges were designed to help individuals, families, and small businesses find affordable health coverage.

Marketplace insurance offers a variety of plans, allowing consumers to compare options based on criteria such as premiums, deductibles, and coverage levels. Additionally, purchasing insurance through these marketplaces may provide access to subsidies or financial assistance for eligible individuals, making healthcare more accessible for those who may not afford coverage otherwise.

In contrast, other options focus on different types of insurance or contexts. Life insurance offered through private companies pertains to policies that provide death benefits and is not specific to health coverage. Insurance for damages from natural disasters addresses property damage coverage, which also falls outside the health insurance realm. Lastly, employer-group policies are specific to insurance provided through an employer and do not involve the individual purchasing plans through a marketplace. Therefore, the definition of marketplace insurance aligns best with the options for health insurance available through exchanges.