What Are Health Insurance Marketplaces and Exchanges?
Exchanges or marketplaces are services that enable enrollment in insurance through a public or private forum. These forums are accessible through multiple portals and websites.
South Carolina Private Exchanges vs Public Exchanges
The private exchange is designed for employers to allow employees to enroll in a preselected company health insurance plan. It 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 South Carolina:
- Blue Cross Blue Shield of South Carolina
- BlueChoice HealthPlan
- Cigna Healthcare
- UnitedHealthcare Life Insurance Company
- Celtic Insurance Company
The public exchange for South Carolina is run by the Department of Health and Human Services (HHS), at the federal level, after Governor Nikki Haley decided not to run a state-based marketplace when Obamacare was passed and vehemently opposed any support of the act.
When using the public exchange, your application will also verify if you qualify for Medicaid, CHIP, or other discounts based on income level.
The following carriers are available through the South Carolina public exchange:
- Blue Cross and Blue Shield of South Carolina
South Carolina Marketplace and Exchange Facts