When researching health insurance options, you may read about the terms, “individual market”, “on-exchange”, and “off-exchange”, but what are they? I’m here to help!
The individual market is made up of individual plans, regardless of where they’re purchased…on-exchange or off-exchange. On-exchange plans are purchased through government-created marketplaces, like the federal marketplace (Healthcare.gov), or a local state marketplace (however, in Utah, individuals shop for coverage only through Healthcare.gov; businesses may shop through Avenue H).
In contrast, off-exchange plans can be purchased in a lot of different ways. These are plans that are available outside of the public exchange, otherwise known as the open market.