Health insurance marketplace clambers to prepare for state exchanges

Healthcare ReformThe entire health care system is facing a massive change with the upcoming implementation of the state insurance exchanges which are the heart of the overhaul to the system made by the Obama administration.

Businesses ranging from pharmacies to insurance companies, and from therapists to doctors and virtually any healthcare-related industry are now being forced to prepare for the new shape of the insurance marketplace and are all coming up with their own unique opinions based on the circumstances in which they are finding themselves.

Among all of those different points of view, there is one thing upon which they can all agree: that the time has come for each of them to show their stuff. There have already been thousands of comments received by Health and Human Services concerning the regulations that have already been issued regarding the way the exchange will be shaped.

Under these new reforms, each state will be required to create an exchange, which is a marketplace for health insurance. The exchange must be ready and fully operational by 2014. Each state insurance exchange will provide consumers – individuals and small businesses – with a single location in which to compare health insurance plans and purchase their policies.

Furthermore, these exchanges will give Americans with lower and middle incomes the ability to use new tax subsidies so that their coverage will be more affordable.

According to the Congressional Budget Office, a non-partisan organization, it is estimated that about 24 million people in the United States will be using the exchanges to purchase their health insurance.

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