Monday, August 20, 2012

Health Insurance Exchange Update: Monday, August 20, 2012

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Last week here on the blog, we focused on creating a strong IT presence for a healthcare exchange.  In today's update, we see a number of state prepping for their exchanges by partnering with IT firms.  For those who are not, many states are delaying their discussions as long as they can to avoid creating an exchange for their state.

As IT is such an important part of the healthcare exchange, many professional services catering to the industry are seeing a boost in the contracts they are receiving.  According to the Washington Post, there have been 75 contracts awarded nationally in relation to the new health insurance exchange.  They point out that 14 of these contracts have been signed Maryland and Washington, DC.  These two states have committed to building their own exchanges to prepare for the deadline in 2014.

Utah, one of the current states already running an Exchange, has partnered with Certifi as their financial partner for their exchange.  According to Visual Strategy, they will be responsible for responsible for processing all necessary invoicing, collections and disbursements of insurance premiums and commissions.

In Missouri, a restraining order has been issued after the Secretary of State blocked a ballot summary referencing the vote for the Heath Insurance Exchange in Missouri.  Many believe that the question is misleading and will not lead to a fair vote for Missourians when they are voting for a state or federal run health insurance exchange.  The ballot question referenced is: Shall Missouri law be amended to deny individuals, families, and small businesses the ability to access affordable health care plans through a state-based health benefit exchange unless authorized by statute, initiative or referendum or through an exchange operated by the federal government as required by the federal health care act?  According to Missourinet, they believe the ballot is bias.  The courts will issue a ruling on August 28.

In Kentucky, the vote for the creation of an exchange by the Interim Joint Committee on Health and Welfare has been delayed until the next session. They claimed there was not enough information on how it would work and operate to vote properly. The federal government would pay for the exchange the first year, then pass the costs off to the states. The Lane Report claims that it would cost the states $67 million in the second year of operation.

This November, the Health Insurance Exchange Congress will be held November 13-14, 2012 in Chicago, IL.  Here, state officials and health plans with the only opportunity to come together to discuss PPACA and strategize on how to make this a successful opportunity for all.  For more information on this year's agenda, download the program here.  As a reader of this blog, when you register to join us and mention code XP1710BLOG, you'll receive 15% off the standard rate!

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