Health Insurance Exchange Basics

State health insurance exchanges are a key feature of the Affordable Care Act. This brief sets forth the major requirements for exchanges as described in the federal law. These requirements fall into four categories: administration and governance, insurance plan oversight, interactions with consumers, and information transfer and availability.

The Affordable Care Act requires the Secretary of the Department of Health and Human Services to issue regulations in several critical areas relevant to the exchange. States should anticipate future guidance and regulation by the federal government and be prepared to take these regulations into account in their planning.