Tuesday, October 9, 2012

Health Insurance Exchange Update: Tuesday, October 9

Mississippi State Flag
Is the new Affordable Care Act law pushing the private sector insurance companies to start running their own internal exchanges?  Today, we see a continuing trend that insurance exchanges in the private industry are now on the rise.

In Idaho, they're examining their options for creating a state run exchange and hit the federal requirements and timelines that were set in place.  Modeled much after how Hawaii came to create their exchange, they will tinker with the Idaho Health Data Exchange to fit the needs of the new requirements.  According to the Spokesman -Review, they would need a state established private  non-profit corporation.  This currently isn't established in the state.

Following up on our story from Wednesday, October 3, CFO Magazine has an in-depth look at the current transition of many companies switching to exchanges in order to provide their employees health insurance.  They believe that these could be the future of private exchanges   It is still up for debate whether or not the having a single carrier or multiple carriers has an influence on the price.

Mississippi is a "State of Misery" where poor health, poverty and crime are all at disturbing levels.  Over 19% of the population, approximatly 19%, have no health insurance.  Although the governor has decided not to expand Medicaid, but Insurance Commissioner Mike Chaney is working to get a state run exchange moving.  His goal is to create the exchange then hand it over to a non-profit that will provide the subsidized insurance according to Bloomberg Business Week.

Minnesota has created the exchange and has a prototype of what it will look like online.  Check it out here.  They are also unique as they have involved their state citizens thorughout the creation of the exchange base don these six principles: Universal coverage, High quality, affordable health care, Consumer friendly, Eliminate health disparities, Accountable and Competition according to Health in Minnesota.

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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