Monday, August 27, 2012

Health Insurance Exchange Update: Monday, August 27

As we grow closer to the deadline, we are seeing a number of states commit to a state-run health insurance exchagne.  We're also seeing the government continue to give out funding and grants in order to encourage states to create their own exchange.

Eight more states have received funding for their health insurance exchanges according to ExecutiveGov.  States receiving Level 1 Funding include California, Hawai, Iowa and New York.  Receiving Level 2 funding include Connecticut, Maryland, Nevada and Vermont.  These states receiving Level 2 funding are farther along in their exchange development process.  According to the article, so far, 34 states have received funding in order to create a health insurance exchange.

Recent reports from the New York Daily News share that it costs a family to insure themselves for as much as $8462 a month, while individuals can insure themselves for $18,384 a year.  This leaves many New Yorkers to choose to go uninsured while those who choose to get health insurance, often those with chronic conditions, to pay even higher insurance bills.  As New York is one of the states going ahead with a state run exchange, it is hoped that the competition will drive health insurance costs down so that they become more affordable in the area.

The Washington Post paints a clear picture of what Republicans have in mind should they take over the White House this November.  They would like to create a budget that would cover a set amount for Medicaid and Medicare and leave the States and Patients to decide what benefits can and cannot afford beyond that point.

After receiving the grant from the US Governemnt, Connecticut has declared to official proceed with their state run exchange.  According to News 8, they have received a total of $116 million to create their health insurance exchange.

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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