The Golden State is getting ready to provide the largest marketplace in the United States.
California is steaming ahead with its plans for implementing its health insurance exchange, which is going to be an important accomplishment in the country simply because it is set to be the largest marketplace among all of the states.
This particular exchange is among those that will be state run, which will also be notable due to its size.
Though California has claimed that it was the first to begin its health insurance marketplace, there are a number of others that had also begun their processes at about the same time, including Maryland and Massachusetts. That said, the deputy commissioner of the state, Janice Rocco, has explained that regardless of who started first, “California has moved forward quickly.”
The health insurance exchange in California has been a massive project that is flying together.
In California, the uninsured rate is slightly lower than the 16 percent national average, as 14 percent of its residents do not have coverage. However, simply because of the size of California, its health insurance marketplace will still be required to cover more than any other state, with an estimated 5.3 million people set to begin using it once it opens for business.
Moreover, the complexity in California increases because there are two separate health insurance overseeing departments in the state. This means that there is just that much more to be factored into the creation and operation of the exchange.
The first is the state health insurance department, which is responsible for the business and individual plans. There is also the Department of Managed Care, which oversees the HMOs, such as Blue Cross/Blue Shield and Kaiser Permanente, two privately held programs.
However, in the case of Covered California, the health insurance marketplace being established within the state, neither of those entities will be in charge. Instead, it the exchange will provide its own oversight as insurers being to line up to take part and outline the various plans that they will have to offer. So far, there are up to 33 insurers already hoping to take part. Some are well established, while others are start-ups. The exchange has yet to give approval to any.
