Public vs. Private Health Insurance Exchanges – How are they different?

Health Insurance Exchanges (HIXs) come in two basic flavors:  Public Exchanges and Private Exchanges.  Let’s take a moment to define them and outline the stark differences between the two.

Both types of HIXs were originally created to allow individual people to pick their own health plans from a wide selection of offerings from multiple insurance carriers.  More choice and greater competition are meant to bring the promise of lower rates.
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