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Meaningful Health Care Informatics Blog

Jul 17 2011   9:55PM GMT

Affordable Insurance Exchange for 2014



Posted by: RedaChouffani
Uncategorized

On Friday President Obama announced that there will be some adjustments to healthcare. On Friday 15th, 2011 the president discussed the following: “envision a situation where for somebody in my position, having to pay a little bit more on premiums, or co-pays, or things like that would be appropriate. And, again, that could make a difference.”

This is a sign that some additional changes may be coming to Medicare possibly.

In the same week HHS announced the details for the affordable Insurance Exchange. As part of the healthcare reform, this was designed to create more options for health plans for businesses as well as individuals.

According to healthcare.gov defines the exchange as the following:

An Exchange can help you:

  • Look for and compare private health plans
  • Get answers to questions about your health coverage options
  • Find out if you’re eligible for health programs or tax credits that make coverage more affordable
  • Enroll in a health plan that meets your needs

What this means for you:

  • For individuals and families, the Exchange is a single place where you can enroll in private or public health insurance coverage.
  • For small employers, the Exchange is a way to level the playing field, where you have better choice of plans and insurers at a lower cost, the way larger employers do now.

In Kathleen Sebelius, Secretary of Health and Human Services blog, she outlined how HHR new proposed ruling offers states guidance and options on how to structure the exchanges. The two models suggested were:

  • Setting standards for establishing Exchanges, setting up a Small Business Health Options Program (SHOP), performing the basic functions of an Exchange, and certifying health plans for participation in the Exchange, and;
  • Ensuring premium stability for plans and enrollees in the Exchange, especially in the early years as new people come in to Exchanges to shop for health insurance

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