Which federal program supports the Virginia Insurance Marketplace?

The Affordable Care Act (ACA) is the correct answer because it established health insurance exchanges, which include the Virginia Insurance Marketplace. The ACA's primary goal is to increase access to health insurance for individuals and families, ensuring that a broader demographic can obtain coverage. It created a framework for states to develop their own insurance marketplaces to facilitate the purchase of health insurance plans, often with potential subsidies to help lower-income individuals afford coverage.

In contrast, Medicare is a federal program primarily for individuals aged 65 and older or those with specific disabilities, and it does not directly support state insurance marketplaces. The Social Security program provides financial assistance but is unrelated to health insurance or the structure of the Virginia Insurance Marketplace. Finally, the Children's Health Insurance Program (CHIP) focuses specifically on providing health coverage for children in families with incomes that are modest but too high to qualify for Medicaid, and does not extend to the broader insurance marketplace for adults.