Health plans have long supported Exchanges as one option among many to provide consumers with access to innovative plan choices and clear and consistent information that can help aid decisions about all coverage options.
Enrollment in the new health insurance Exchanges is from October 1 to March 31. The Exchanges will be run either by states directly, through a federal-state partnership or by the federal government solely. Individuals and families purchasing coverage through the Exchanges may be eligible for subsidies depending on their income level. For more information on subsidies, check out our fact check here.
Who Can Enroll in the Exchanges?
Individuals and employers with 50 or fewer full-time employees can purchase coverage through the Exchanges.
The health reform law also requires that all Americans carry health insurance. This is intended to reduce the incentive for people to wait to purchase coverage until after they are sick or injured, which would unfairly penalize everyone with insurance.
What Do These Changes Mean?
The health care reform law will expand access to insurance and broaden insurance benefits. Everyone can sign up, including those with pre-existing medical conditions. These new benefits bring new costs. Financial assistance will be available to help qualifying individuals and families pay for coverage. Even with this new assistance, the new benefits will cause some people who currently have insurance to pay more than they do today.
So how will premiums be impacted? It depends. The impact on premiums will vary depending on where you live, what coverage you have today, and your age, health, gender and income.
Find Your Exchange:
America’s Health Insurance Plans’ (AHIP) President and CEO Karen Ignagni released the following statement on the start of open enrollment in which consumers and small businesses can sign up for coverage that takes effect on January 1.
Important Medical Loss Ratio Final Documents And New Exchange Guidance on Federally-Facilitated Exchanges (released by CCIIO May 16 and 17).
The advent of mandated government-sponsored health insurance exchanges is expected to create a marketplace disruption larger than that of Medicare Part D in its inaugural year.
The Choice and Competition Coalition is a partnership of businesses, providers, brokers and insurers working to ensure that Health Insurance Exchanges promote competition and preserve consumer choice.
AHIP letter to HHS summarizing our recommendations on how to develop health insurance exchanges that maximize choice and competition for consumers.