What Are Health Insurance Marketplaces and Exchanges?
Exchanges or marketplaces are services that enable enrollment in health insurance plans through a public or private forum. These forums are accessible through multiple portals and websites.
Hawaii Private Exchanges vs Public Exchanges
The private exchange is designed to be used by employers to enable employees to enroll in the company’s pre-selected 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 through private exchanges or third parties in Hawaii:
The public exchange for Hawaii was originally set up a state-based exchange. Because of technical issues, Hawaii moved to utilizing the federal platform and has operated as a federally-supported state-based marketplace. This means the state works to negotiate with carriers, but utilizes the federal platform. In 2017, (pending federal government approval) Hawaii will move to being a fully-federally-run exchange.
The following carriers are available through the Hawaii public exchange:
Hawaii Marketplace and Exchange Facts