A private exchange is a marketplace where individuals and businesses can compare and purchase health insurance, often with the assistance of a health insurance agent/broker.
A private exchange contrasts with the public health insurance exchanges (also known as the Health Insurance Marketplace) set up as part of Affordable Care Act (ACA).
CaliforniaChoice is the nation’s oldest private health insurance exchange. It operates exclusively in California for employers looking for group health insurance for their employees. CaliforniaChoice began operations in 1996; it currently offers coverage through eight participating insurers and health plans.
Please also see “Health Insurance Exchange” entry.