Which federal law established the framework for the health insurance marketplaces?

The Affordable Care Act (ACA) is the federal law that created a comprehensive framework for health insurance marketplaces, which are designed to facilitate access to affordable health insurance coverage for individuals and small businesses. Enacted in 2010, the ACA aimed to improve healthcare quality, lower premiums, and extend coverage to more Americans. The law established state-based and federal marketplaces where consumers can compare health plans, find out if they qualify for subsidies, and purchase insurance.

This significant piece of legislation aimed to increase the number of insured individuals and also included provisions to enhance the regulation of health insurance, improve patient rights, and focus on preventive care. It was a major shift in the way health care was delivered and financed in the United States.

The other options represent important laws but do not specifically establish the frameworks for health insurance marketplaces. The Health Insurance Portability and Accountability Act (HIPAA) primarily focuses on protecting the privacy and security of health information. The Patient Protection Act is often used interchangeably with the Affordable Care Act but is more commonly associated with its initial title rather than the overall framework. The Social Security Act addresses various aspects of social insurance and welfare, including Medicare and Medicaid, but does not specifically deal with health insurance marketplaces.