This is an important week for the health insurance industry in Illinois. The state has entered the national limelight as it draws closer to making a decision regarding the establishment of a health insurance exchange. Legislators have been torn on the issue since the passing of the Affordable Care Act in 2010. A law that would make the exchange a reality is currently before the state Legislature and lawmakers are expected to determine the fate of the exchange initiative by the end of the week. If the law is passed,…
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State Governors voice their concerns for state autonomy as health insurance exchanges become a reality
The National Governors Association has written a letter to the U.S. Health Secretary Kathleen Sebelius regarding federally mandated health insurance exchanges. The exchanges have received mixed reviews from state officials, many of whom are still grappling with the vague guidelines provided to them by the Department of Health and Human Services. In the letters, Governors detail how the exchanges may damage a state’s autonomy, as the federal government may end up taking control of certain aspects of the exchange initiative. While the letter does not decry the establishment of exchanges,…
Read MoreMeeting of lawmakers and insurance officials highlights the importance of simplicity in national insurance exchange program
Health insurance exchanges were a popular subject during a recent gathering of federal lawmakers and insurance officials this week in Washington, D.C. Exchanges have been growing in popularity throughout the nation, gaining support in some states while finding opposition in others. The overall aim of the exchange initiative is to present consumers with a way to find and purchase affordable insurance policies. Much of the effort concerning exchanges centers around the concept of affordability, but consumers are far more interested in understanding what they are buying than how much policies…
Read MoreLegal battle regarding federal insurance mandate to take place in Minnesota this week
The latest development in the ongoing saga of opposition against the federal Affordable Care Act is set to take place the U.S. Court of Appeals for the Eighth Circuit in Minnesota this week. The provision in question is an insurance mandate imposed by the new law that states that all U.S. citizens must purchase some kinds of health insurance or face major penalties. Two Missouri residents have filed a lawsuit against the federal government concerning the matter. While the lawsuit itself comes only from two people, they are backed by…
Read MoreObama administration’s nationwide health insurance framework
The federal government has – through the announcement of a framework for the Obama administration’s basic benefits package for Americans who are privately insured –made public its decision to play a vital role in the healthcare of the country, and the reforms it has made to it. The Institute of Medicine, a non-government, independent organization, has released a report with the guidelines for what is called the “essential benefits package”, as well as the way in which it will be kept affordable for both taxpayers and small businesses, while it…
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