Thursday, September 13, 2012

Health Insurance Exchange Update: Thursday, September 13th

We are just two months away from the November 16th  deadline for the health insurance exchange and many states are still undecided on their proposals.   

Minnesota is taking a closer look at how the exchange will effect business.  Smaller insurance agencies are still unclear as to what their role will be in the future, and the Chamber of Commerce President David Olson feels that the guidelines need to be more specific. And although the Dayton administration expects the exchange to not only cut cost, but also serve 1 million families, businesses are still skeptical. Aside from the logistics, politics are also becoming an issue. Many fear that there are too many issues to address before the November 16th deadline.   

Also in New Jersey, there is a conflict of interest over a democratic bill that prevents members of a proposed state health-exchange board from working for or serving on the board of healthcare companies, brokers, trade groups, medical facilities, or other related entities. Representatives of the insurance, hospital and small business industries argue that board members who work in the field are more experienced and aware of the issues at hand.  This isn't the first legislative obstacle that the state has faced. Last May Governor Christie vetoed a very similar legislation. "We’re still in the process of hammering out the details of the bill,” Assemblyman  Herb Conaway said.“The finish line is not likely to come until after the election, but we are working across both sides of the aisle."

The recent hacking of Utah's health exchange has left many concerned, especially because vital information such as Social Security numbers, and income tax information will be stored electronically. This situation may raise security awareness for all other states that are currently planning their exchange. Many states are going as far as hiring security managers, requiring state agency verification, as well as various firewalls and data encryption. 

Want to learn more about the 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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