Health Insurance Exchange
Health Insurance Exchange is marketplaces where people and
small businesses can purchase health insurance. Any individuals may also use the Health
Insurance Exchange to enroll in Medicaid. It is known as major
healthcare reform and primary goal of Health Insurance Exchange to help more
people get insured, improve health care quality and increase transparency of
health care coverage costs.
Following are the functions of Health Insurance Exchange
- Consumer Assistance
- Provide support to consumer
- Provide call center assistance
- Management and Handling of Website
- Plan Management
- Analysis of available Plan
- Plan Selection
- Eligibility
- Accept Insurance Application form
- Verify information of application
- Determine eligibility
- Connect Medicaid eligible applicants to Medicaid
- Enrollment
- Enrollment of consumers into appropriate health plan
- Advance payments of the premium tax credit
- Financial Management
- Risk management related to finance
- User Fees Acceptance
- Maintain Financial Integrity
Consumers of Health Insurance Exchange
- Individuals
Any Individual
- Small businesses
Any Small industry where less than 50 employees are working
Health Insurance Exchange IT Industry
One recent report published by MarketsandMarkets about Health Insurance Exchange IT Market forecast that the Health Insurance Exchange (HIX) IT market estimated at $1,609.7 Million in 2013 is expected to reach $2,656.4 Million by 2018, growing at ultimate CAGR of 10.5% from 2013 to 2018. Some leading companies in the health insurance exchange IT Industry are Accenture (Ireland), CGI Group, Inc. (Canada), Deloitte (U.S.), IBM Corporation (U.S.), Infosys (India), MAXIMUS (U.S.), Oracle Corporation (U.S.),Xerox Corporation Ltd. (U.S.), and other emerging players such as Connecture (U.S.), Cognosante (U.S.) etc.
Health Insurance Exchange IT Industry, By Type, 2013–2018
Image Source : MarketsandMarkets
