The California Health Benefit Exchange/Covered California mission is to increase the number of insured Californians, improve health care quality, lower costs, and reduce health disparities through an innovative, competitive marketplace that empowers consumers to choose the health plan and providers that give them the best value.

Covered California is a public entity within state government with a five-member board appointed by the Governor and Legislature. Per Government Code 100503(o), the board authorizes a budget from the California Health Trust Fund to pay program expenses to administer the Exchange. In June of 2015, the Board adopted a budget for Fiscal Year 2015-16. The proposed 2016-17 budget will be approved by the board in the spring of 2016.