Mississippi commissioner has plans for a state-run health insurance exchange
Mississippi Insurance Commissioner Mike Chaney has a new plan concerning the state’s health insurance exchange. Chaney was recently involved in a controversial political battle with the state’s Governor regarding compliance with the Affordable Care Act and how the state’s exchange system should be formed and managed. Chaney had initially intended to run the state’s health insurance exchange himself, without the support of Governor Phil Bryant. This plan was rejected by the federal Department of Health and Human Service, but Chaney is now looking to form a new exchange that will cater to a specific demographic.
Exchange would cater to small businesses
The commissioner has plans to form a health insurance exchange that is designed specifically for small businesses. This exchange would be managed by the state’s Insurance Department while a larger exchange system would be built and operated by the federal government. Chaney’s exchange is meant to address the issues that small businesses are facing when it comes to health insurance coverage and the provision of the Affordable Care Act. Commissioner Chaney suggests that the Insurance Department has adequate authority to form this exchange without the approval of Governor Bryant.
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Federal officials reviewing plans for the exchange
Plans for the small business health insurance exchange have already been submitted to the Department of Health and Human Services and federal officials are currently reviewing these plans. Chaney notes that if his plans do not receive approval within the next 10 days, the health insurance exchange will not be able to take form. If approval is granted, Chaney suggests that the exchange would become operational in June 2014. The commissioner suggests that a state-run exchange would be in the best interest of consumers throughout Mississippi.
Insurers show support for small business exchange
Chaney claims that three of the state’s largest health insurance companies have already shows their interest in participating in the exchange system. Federal officials are currently in negotiations with Mississippi officials concerning the establishment of a state-run health insurance exchange for small businesses. Utah is one of the few states that has made headway in establishing this type of exchange system.