Healthcare Exchanges
2:55 PM February 7, 2012
"The train is coming... will you hop aboard?"
Since the healthcare law passed in 2010, there has been much confusion and skepticism surrounding the elusive state-based Health Insurance Exchanges. Will my premium costs increase? Will my plan choices within the Exchange be limited? Will the quality of my care decrease?
While many of these questions are valid, the fact of the matter is, the current system is broken and healthcare costs will continue to ride for small employers.
The new state-based Health Insurance Exchanges present an important new opportunity for small businesses to pool together to purchase health insurance from a competitive marketplace where private insurers will bid to participate. It is evident that many states have been working hard to put these in place. As of January 2012, all but three states have made significant progress on Exchange planning and implementation.
While we wil have to wait for some of the answers to our lingering questions about Exchanges, in the meantime, we urge small employers to educate yourself on your own state progress and work to understand this new marketplace and how you can make the most out of it come 2014.
Join WIPP's Healthcare Issue Committee for more insight and discussion.
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