Health Insurance Exchanges Gain Attention
Kaiser Health News reports on health insurance exchanges, a concept now being considered in the context of Congress"s health overhaul proposals. "The seemingly simple idea behind exchanges - one-stop shopping for insurance - masks the cornerstone role they may play in a national overhaul of the health system. President Obama supports the idea, and exchanges are included in most of the health care proposals now before Congress. Done right, proponents say, exchanges could transform how insurance is sold, giving individuals and small businesses improved purchasing power, increasing price competition among insurers and creating standardized benefits. Done poorly, analysts and critics say, exchanges could drive up insurance costs and encourage employers to drop coverage, unraveling the system that insures most working Americans. While it"s still unclear what Congress will do, Senate Democrats have looked closely at Massachusetts. Here"s how it works there: The state established its exchange, called the Health Connector, mainly for the benefit of individuals who aren"t insured by employers. They include the self-employed and the unemployed, two categories of people who traditionally have the most difficulty obtaining policies. Although not required to buy through the exchange, doing so gives them group-purchasing power. Lower-income people are eligible for state subsidies."
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