Final answer:
Health insurance exchanges under the ACA are designed to create a competitive market for insurance plans rather than directly provide affordable health insurance. They act as platforms for insurance companies to compete, which aims to lead to improved affordability and options for consumers.
Step-by-step explanation:
The role of health insurance exchanges established by the Affordable Care Act (ACA), also known as Obamacare, is not to directly provide Americans with access to affordable health insurance, but rather to create a competitive market where people and businesses can shop for various insurance plans. One of the main goals of Obamacare is to make insurance more affordable and thus increase the number of insured Americans; however, the exchanges themselves do not provide insurance but facilitate the availability of insurance plans by various providers to consumers. The exchanges serve as a platform for insurance companies to compete for business, which in theory should lead to better prices and services for consumers.
The role that is NOT a function of the exchanges is the direct provision of health care or the issuance of insurance policies; they are marketplaces, not insurers. Therefore, in the context of the provided information and the key goals of the ACA, the health insurance exchanges aim to foster competition in insurance markets and are not in charge of ensuring all Americans have access to affordable health insurance directly through the exchange, though this is a broader goal of the ACA itself.