California Insurance Exchange Introductions
Relatively recently, California has become the first state to commence working on a health insurance exchange. These exchanges are intended to make it easier for potential insurance buyers to compare plans and find affordable rates. The health insurance exchange model was proposed as part of the health care reform that saw the Affordable Care Act, among others, signed into law. It is the hope of the government that these reforms will bring quality medical care to more Americans.
How the California Insurance Exchange Impacts on Existing Plans
The new California insurance exchange developments still need to be designed and implemented, thus there is no immediate effect on current insurance practices. A deadline for implementation has been set, for 2014. Private insurance plan holders can still enjoy their health cover; the introductions will simply give families and businesses with additional affordable options. It is the aim of these new systems to help individuals and businesses obtain greater buying power, so that more people can enjoy affordable benefit packages.