SBM-FPs Explained: What Health Plans Need to Know What are state-based marketplaces operating on the federal platform (SBM-FPs), and why are they becoming a popular choice for states? In this episode, Joe Boyle breaks it all down. Learn the fundamentals of SBM-FPs, including how they operate, why states choose them, and the financial and operational implications for health plans. Joe also explains the transition process to standalone state-based marketplaces, the role of enhanced direct enrollment in maintaining a seamless member experience, and how carriers can align strategies to navigate these changes. Whether you're preparing for an SBM transition or want to better understand these hybrid models, this episode provides valuable insights for health plan professionals. Listen now to stay informed, and don’t forget to like, share, and subscribe!