President Obama has signed a healthcare reform bill into law which will require all 50 states to start a healthcare exchange or the government will do it for them. This can be very beneficial for consumers and small businesses to compare and purchase their medical insurance coverage at lower rates in one place.
Why is it beneficial?
These healthcare exchanges are believed to produce some competition in the health care insurance market. When there is competition it usually means lower cost to consumers. Lower rates means afford ability to everyone.
Each state is required to implement these exchanges by the year 2014. They are required by law to have on each exchange, at least two plans from two or more other states. This means that you may be working in one state and live in another but will be able to have a doctor close to home, as well as, close to where you work. They are also required to have one nonprofit plan.
These plans are broke down into four categories, platinum, gold, silver, and bronze. They are at different cost levels providing a variety to consumers. The exchange will not tell insurance companies how much to charge but they will regulate the cost on the exchanges. If the company has high rates, they will need to provide a satisfactory reason to the exchange or risk having their products banned from the exchange.
The exchanges are also required to have a call center that will be available twenty-four hours a day, every day. This will enable consumers, insurance companies, agents, and navigators to have any doubts or questions answered satisfactorily about the exchange.
The healthcare exchanges are making it possible for those who cannot afford medical coverage for themselves or their families to be able to. Even if by chance, families are still financially unable to purchase a plan through the exchange the government will provide a subsidy to aid in the purchase. And if you purchased a plan through the healthcare exchange and lost your job, you don't have to lose your medical coverage.
The healthcare exchanges will be available for all U.S. citizens and legal immigrants, and will be at some point available for large businesses. The large businesses will be grand fathered in. Small businesses with employees less than one hundred will be able to take advantage of the exchanges. This can be beneficial to those small businesses who wish they could supply medical coverage for their employees and can't due to the high rates. However, those who are imprisoned will not be able to use the exchanges. If you prefer to buy your medical coverage for yourself or your family outside the exchange, you can still do so. The cost for a plan advertised on the healthcare exchange will remain the same if purchased outside the exchange.
If you don't have internet access, there will be mailings and newsletters for those individuals so they too can take advantage of the healthcare exchanges. You will be able to purchase medical insurance for yourself, your family, and your employees through the website, the phone, mail, or in person.
Why is it beneficial?
These healthcare exchanges are believed to produce some competition in the health care insurance market. When there is competition it usually means lower cost to consumers. Lower rates means afford ability to everyone.
Each state is required to implement these exchanges by the year 2014. They are required by law to have on each exchange, at least two plans from two or more other states. This means that you may be working in one state and live in another but will be able to have a doctor close to home, as well as, close to where you work. They are also required to have one nonprofit plan.
These plans are broke down into four categories, platinum, gold, silver, and bronze. They are at different cost levels providing a variety to consumers. The exchange will not tell insurance companies how much to charge but they will regulate the cost on the exchanges. If the company has high rates, they will need to provide a satisfactory reason to the exchange or risk having their products banned from the exchange.
The exchanges are also required to have a call center that will be available twenty-four hours a day, every day. This will enable consumers, insurance companies, agents, and navigators to have any doubts or questions answered satisfactorily about the exchange.
The healthcare exchanges are making it possible for those who cannot afford medical coverage for themselves or their families to be able to. Even if by chance, families are still financially unable to purchase a plan through the exchange the government will provide a subsidy to aid in the purchase. And if you purchased a plan through the healthcare exchange and lost your job, you don't have to lose your medical coverage.
The healthcare exchanges will be available for all U.S. citizens and legal immigrants, and will be at some point available for large businesses. The large businesses will be grand fathered in. Small businesses with employees less than one hundred will be able to take advantage of the exchanges. This can be beneficial to those small businesses who wish they could supply medical coverage for their employees and can't due to the high rates. However, those who are imprisoned will not be able to use the exchanges. If you prefer to buy your medical coverage for yourself or your family outside the exchange, you can still do so. The cost for a plan advertised on the healthcare exchange will remain the same if purchased outside the exchange.
If you don't have internet access, there will be mailings and newsletters for those individuals so they too can take advantage of the healthcare exchanges. You will be able to purchase medical insurance for yourself, your family, and your employees through the website, the phone, mail, or in person.
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