IN Brentwood-Baldwin-Whitehall Winter 2017 | Page 16

INDUSTRY INSIGHT
INSURANCE
SPONSORED CONTENT
Understanding Health Insurance Exchanges
What are exchanges?
These are transparent marketplaces that allow consumers in each state; as
well as small businesses (those with 100 or fewer employees); to compare and
shop among affordable, quality health insurance options.
Who offers the exchanges?
HIXs are offered through state and federal government entities, and are
subject to state regulation, standardization, and oversight. The insurance
plans offered within the exchanges will be from private insurers.
What are the advantages?
The Department of Health and Human Services lists these advantages for
consumers:
Lower costs: Due to increased competition and pooled resources, small
businesses, individuals, and families can purchase insurance at rates
similar to what large businesses enjoy today.
One-stop shopping: The exchanges give consumers tools to effectively
compare benefits, pricing, and quality.
Greater benefits and protection: Exchanges give families and small
businesses access to plans offering high-quality benefits. Tax credits and
reduced cost sharing may also be possible, depending on a person’s
income.
Visit HealthCare.gov to learn more about health insurance exchanges and
what they might mean to you.
To find out how State Farm may be able to help with your health
insurance needs, contact your agent.
Disclosures: State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries
and affiliates) is not responsible for, and does not endorse or approve, either implicitly or explicitly, the
content of any third party sites hyperlinked from this page. State Farm has no discretion to alter, update, or
control the content on the hyperlinked, third party site. Access to third party sites is at the user’s own risk,
is being provided for informational purposes only and is not a solicitation to buy or sell any of the products
which may be referenced on such third party sites.
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