Health Insurance
Health Insurance Marketplace
The marketplace, also called the exchange, is where most people shop for ACA plans and access premium tax credits to reduce their monthly premium.
Last reviewed: May 2026 · Editorial methodology
Definition
The Health Insurance Marketplace (also known as the Exchange) is the shopping and enrollment platform created by the ACA where individuals, families, and small businesses can compare and purchase qualified health plans (QHPs). The federal marketplace operates at HealthCare.gov and serves states that did not establish their own exchange; 21 states and the District of Columbia run their own state-based marketplaces including Covered California, NY State of Health, and GetCoveredNJ. All marketplace plans must cover the ten Essential Health Benefits, cannot deny coverage for preexisting conditions, and must be organized into Bronze, Silver, Gold, or Platinum metal tiers. Premium tax credits and cost-sharing reductions are available exclusively through the marketplace for eligible enrollees. Open enrollment typically runs from November 1 through January 15 in most states, though state-based marketplaces may set different windows. Special enrollment periods allow qualifying individuals to enroll outside open enrollment when a qualifying life event occurs.
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Cover Forge USA Editorial Team
Editorial Lead
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed 2026-06-14
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