Health Insurance Exchange Market Report Forecast to 2027

Health Insurance Exchange Market is projected to at a CAGR of 11.2% during the forecasting period 2021-2027. 

The health insurance exchange is a critical enabler of improved healthcare results because it allows different insurance offerings to be combined and presented to the public for future protection against illnesses. It may be privately owned or controlled by the relevant government agencies. Government-owned exchanges provide the normal benefits of protection and intent security, but they provide less benefits and are significantly less profitable than privately run exchanges. The revenue generated by IT vendors primarily in terms of planning, developing, and implementing exchanges, system integrations, programme management, operations, and maintenance is included in the Health Insurance Exchange (HIX) IT market. A health insurance exchange, also known as a health insurance marketplace, is essentially a health insurance comparison shopping site. People compare shop on the exchange from among the available health plan listings, and private health insurance providers list their health plans with the exchange. Cloud-based software is expected to create lucrative opportunities in the health insurance exchange market due to the growing application of IT in the health sector and the shift in trend towards integrated environments, among other growth factors.

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The Health Insurance Exchange Market report has been categorized as below

By Type

• Public Exchange

• State-based Exchange

• Federally Facilitated Exchange (FFE)

• State Partnership Model

• Private Exchange

• Multi-carrier Exchange

• Single-carrier Exchange

By Phase

• Pre-implementation Services

• Implementation/Exchange Infrastructure Delivery

• System Development and Deployment

• System Integration and Interfacing

• System Software Components

• Program Management and Independent Verification and Validation (IV&V) /Quality Assurance (QA)

• Operations and Maintenance

By Component

• Services

• Software

• Hardware

By End User

• Government Agencies

• Third Party Administrators (TPAs), Brokerage Firms, and Consultancies

• Health Plans/Payers

By Region

• North America

• Europe

• Asia Pacific

• Rest of World

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