The National Conference of State Legislatures has put together a report to guide states as they implement health insurance exchanges, providing options for how to structure these programs.

From the report: 

The Affordable Care Act (ACA) establishes a plan to facilitate the purchase and sale of qualified health coverage in the individual market, and to provide options for small business through American Health Benefit Exchanges. The ACA directs states to establish and implement the operation of an exchange no later than January 1, 2014. State-established government or nonprofit entities will certifying plans and identify individuals eligible for Medicaid, CHIP, and premium and cost-sharing credits. States have several options to structure their exchanges in a way that will best meet the needs of their citizens that include:  1. A single exchange or separate exchanges for the individual and small group market (“a Small Business Health Options Program … [or] ‘SHOP exchange’”), or 2. A network of multiple states.

Full Report: American Health Benefit Exchanges

National Conference of State Legislatures. (2010). American Health Benefit Exchanges.