Final answer:
The Affordable Care Act established Health Insurance Exchanges for individuals and small businesses to compare and purchase health insurance plans, fostering competition and aiming to lower policy prices. The correct answer to the question is: a) Compare and purchase health insurance plans.
Step-by-step explanation:
The Affordable Care Act (ACA), commonly known as Obamacare, mandated the establishment of Health Insurance Exchanges. These exchanges are marketplaces where individuals without health insurance and small businesses that do not provide insurance can compare and purchase health insurance plans. The exchanges were designed to increase competition in insurance markets and, as a result, reduce the prices of policies. By offering a platform for various insurance providers to compete, these exchanges facilitate informed decision-making among consumers and contribute to market efficiency.
The correct answer to the question is: a) Compare and purchase health insurance plans.
Health insurance is mandated under the ACA to avoid adverse selection, thereby ensuring that healthy individuals, as well as those with immediate health needs, are included in the insurance pool, which helps to spread out the costs of insurance and make it more affordable for everyone.