Is the Federal Blueprint for Health Insurance Exchanges Too Ambitious?
Thursday, March 22nd, 2012
by Winifred S. Hayes, PhD, President and CEO, Hayes, Inc.
If the Affordable Care Act (ACA), also known as the Patient Protection and Affordable Care Act (PPACA), remains as is, beginning in 2014 consumers without employer-sponsored health insurance will be able to purchase health insurance through health insurance exchanges (HIX is the approved acronym for these entities). The intent of implementing state-based HIXs is to create a more competitive marketplace through which the uninsured can purchase health insurance. HIXs would offer consumers a choice of private health insurance plans (and perhaps a public option, as well), and these plans will be required to follow standardized rules with regard to the services covered and cost sharing (deductibles, copayments, and out-of-pocket expenses) so that consumers can easily compare plans.
Like any good intention, in theory HIXs sound like an ideal way to provide health insurance coverage to the many Americans without health insurance. But what will the effect be on the healthcare marketplace in general? And in this period of declining federal funding, how will states fiscally plan for and implement HIXs?
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