What is the purpose of the exchanges established by the Affordable Care Act?

The purpose of the exchanges established by the Affordable Care Act (ACA) is primarily to assist individuals and small businesses in purchasing health insurance. These exchanges serve as a marketplace where consumers can compare different health insurance plans based on coverage and costs, enabling them to make informed decisions tailored to their needs. By providing a centralized platform, the exchanges aim to increase access to health insurance, particularly for those who may have previously faced challenges in obtaining coverage due to cost or pre-existing conditions.

In addition to offering a variety of insurance options, the exchanges also facilitate eligibility determinations for premium tax credits and subsidies, which can help lower the cost of insurance for eligible individuals and families. This component is especially important in promoting affordable healthcare access, aligning with the ACA’s overarching goals of improving coverage and reducing the number of uninsured individuals.

The other options describe goals that are either not the primary function of the exchanges or misrepresent the role of the ACA. For instance, regulating premium costs is a broader regulatory objective rather than the specific purpose of the exchanges. Similarly, while managing healthcare services and providing free healthcare are important aspects of the healthcare system, they are not directly related to the function of the exchanges established by the ACA.