Health Insurance Exchanges

By 2014, states will set up insurance exchanges. The exchanges will make it easier for small businesses and individuals to find and buy health insurance. If a state doesn’t establish one, their citizens can buy insurance from the federal exchange.

Health reform requires the Department of Health and Human Services to approve state exchanges by January 1, 2013. They must be open for enrollment mid-year.

Many states are on their way, passing laws, studying exchanges or have systems in place. So far Health and Human Services has awarded states $314 million in grants.

Health and Human Services expects 25 million Americans to buy health insurance through exchanges. About 19 million could quality for a subsidy to help pay for their coverage.

Exchanges will offer individuals standard health plans and five benefit levels (bronze, silver, gold, platinum and catastrophic). Cigna supports exchanges that focus on health care quality and costs. As exchanges and their rules develop, Cigna will keep you informed on reform.