The Patient Protection and Affordable Care Act (PPACA), usually referred as Obamacare, regulate medical plans that are sold in and outside health insurance exchanges. Though these exchanges are widely referred as ‘public’ exchanges, they actually offer private insurance plans. Therefore, if you decide to take out any of these plans, you should look at private health insurance exchanges also for additional choice. Starting 2014, there willbe four basic plans being offered by the private insurers, namely Bronze, Silver, Gold and Platinum.

 The Patient Protection and Affordable Care Act (PPACA), usually referred as Obamacare, regulate medical plans that are sold in and outside health insurance exchanges. Though these exchanges are widely referred as ‘public’ exchanges, they actually offer private insurance plans. Therefore, if you decide to take out any of these plans, you should look at private health insurance exchanges also for additional choice. Starting 2014, there willbe four basic plans being offered by the private insurers, namely Bronze, Silver, Gold and Platinum. As the names suggest, Bronze level medical plans are the cheapest whereas the Platinum plans are the most expensive ones. The particulars of equivalent plans offered by different insurance agencies may differ, but all of these plans are compliant with the pertinent regulatory guidelines contained in the Act itself. If you are considering state health insurance exchanges for the first time, here below are few quick facts for your further understanding.

How expensive are these exchange plans?

The cost of health insurance largely depend on a miscellanea of factors such as your home city and state, your age, your smoking habits and your income. As you can understand, the cost is higher for elderly people. Under new reforms, insurers cannot charge women in excess like they would do usually before 2010. If you opt for private health insurance exchanges understand that health insurance subsidies are available in only the state insurance exchange. These plans could prove beneficial for people not eligible for subsidies for additional choices.

How does the Obamacare affect you?

If you have an existing medical plan, the Act may not directly affect you. However, it is important to check whether your private insurer and the plan you have already purchased conform to the ACA regulations. You may want to change your plan or find a better option at this moment. For that, you can conduct an extensive market survey to find the best plan for you. The Small Business Health Options Program (SHOP) is a great feature of the Obamacare which helps protect the small groups from paying high premiums. Other than that, tax subsidies are also available provided you meet the PPACA eligibility conditions. If you do not have a medical insurance till now, this is a good time for you check for private health insurance exchanges these plans are  regulated by the Federal Government also.

More about private insurance exchanges

The main objectives behind the healthcare regulatory overhaul were to increase focus on standard of healthcare, to ensure private sector insurer participation, and to reduce healthcare costs that directly or indirectly affect the taxpayers. You can now enjoy the provision of comparing your existing plan with state insurance exchanges and switch to a private plan if you feel so.

How to find an insurance marketplace in your state?

As stated earlier, these state health insurance exchanges offer private insurance and the entire marketplace is governed and closely monitored by the Federal government. Open your stat’s web portal and choose your plan. Alternatively, you can find a comprehensive directory on the web that contains all the links and information on these state-controlled insurance exchange programs.

Want to know more about private health insurance exchanges  http://insuranceexchanges.net ? Gain insights into state health insurance exchanges  http://insuranceexchanges.net/state-health-insurance-exchange-resources and find the best plans for you and your family.