Wednesday, April 10, 2013

A Guide to Health Insurance Exchanges

Kaiser Health News published: "A Guide to Health Insurance Exchanges".

  • Exchanges: Where consumers can comparison shop for health insurance.
  • If everything goes well, exchanges could make the buying process easier for health insurance and may lead to lower prices because of increase competition.
  • The exchanges must be set by October 1, 2013.  The exchanges will then go into effect January 1, 2013.
  • States have the option of:
    • Setting up their own exchanges
    • Partnering with Federal government to run an exchange
    • Or opt out of the exchanges (when they opt out, the federal government runs the exchange for the state)
  • Exchanges will be open to:
    • Individuals buying their own coverage
    • Employees of firms with 100 or fewer workers (some states 50)
    • Most people will be able to get subsidies average of $4,600 per person.
    • Undocumented immigrants will be banned from the exchanges.
  • Exchanges will be available for residents who earn up to 400% of the poverty level (around $44,600)
  • Most people will be required to have coverage by 2014.
  • Members of congress will be required to buy from exchanges if they want coverage from the federal government.
To view the full article. please click the following link: A Guide to Health Insurance Exchanges

For additional billing and coding resources, please click the following link: Medical Reimbursement, Inc. Resources Page

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