Federally Facilitated Marketplace
Federally Facilitated Marketplace (pronunciation: fed-er-ally fa-cil-i-tated mar-ket-place) is a service provided by the U.S. Department of Health and Human Services (HHS) to assist individuals and businesses in purchasing health insurance coverage.
Etymology
The term "Federally Facilitated Marketplace" is derived from the role of the federal government in facilitating the marketplace for health insurance. The term was first used in the context of the Patient Protection and Affordable Care Act (PPACA), also known as Obamacare, which was signed into law by President Barack Obama in 2010.
Overview
The Federally Facilitated Marketplace is an online platform where individuals, families, and small businesses can compare and purchase health insurance plans. The marketplace is operated by the Centers for Medicare and Medicaid Services (CMS), a division of the HHS.
The marketplace offers a variety of health insurance plans from private insurance companies. These plans are categorized into four "metal" levels: Bronze, Silver, Gold, and Platinum, each offering different levels of coverage and cost-sharing.
Related Terms
- Health Insurance
- Patient Protection and Affordable Care Act
- Centers for Medicare and Medicaid Services
- U.S. Department of Health and Human Services
See Also
External links
- Medical encyclopedia article on Federally Facilitated Marketplace
- Wikipedia's article - Federally Facilitated Marketplace
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