North Carolina Accident and Health Practice Exam 2025 – 400 Free Practice Questions to Pass the Exam

The function of a health insurance marketplace is to facilitate the buying and selling of health insurance plans as part of the Affordable Care Act (ACA). Marketplaces provide a platform where consumers can compare different health insurance options, understand the coverage they offer, and evaluate costs to find a plan that meets their needs and budget. This system was established to promote accessibility and make it easier for individuals and families to obtain health insurance coverage, particularly for those who may not have employer-sponsored options or are seeking affordable private insurance.

The other choices refer to functions that are not associated with the role of a health insurance marketplace. Evaluating insurance claims for accuracy is typically handled by insurance companies after a policyholder submits a claim, rather than the marketplace. Setting premium rates is the responsibility of individual insurance carriers based on their underwriting practices and risk assessments, not the marketplace itself. Managing healthcare provider networks is the function of insurers who determine which providers are included in their plans, separate from the marketplace's role in facilitating plan enrollment.