<p>Because the whole point of the exchanges is to coordinate the payment of the subsidies.</p>
<p>Without the subsidies, there is no need for an “exchange” – everyone could buy their policies directly from the insurance companies. </p>
<p>Because the whole point of the exchanges is to coordinate the payment of the subsidies.</p>
<p>Without the subsidies, there is no need for an “exchange” – everyone could buy their policies directly from the insurance companies. </p>