Plans for California Health Insurance Exchange Take Shape

California authorities are working on making the health insurance system in California cheaper and more value-based by introducing plans for an exchange based on the Internet. This plan is expected to not just assist consumers but also assist businesses struggling with the rising California health insurance costs.

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In California the health insurance premiums exceed the rate of inflation by four times. Although the overall inflation rate has risen by 23.1 percentage since the year 2002 California healthcare insurance costs have increased by 117.5 percent.

At the legislative level, efforts to put rate hikes under supervision were rejected by insurance firms in 2009, 2008 and in 2010. The goal was to obtain the same authority as that currently in other states in which regulators have the power to block unjustified rate hikes, California legislators have proposed similar legislation in the current session.

California Health Insurance Exchange Is Based On Working Model
The exchange is located in Southern California, the country’s oldest and most efficient California Health insurance exchange provides more than 150,000 customers and more than 12,000 employers. California Choice has been operating for over 15 years, and is a an efficient operational model for the future exchange.

As a result of the Affordable Care Act , which became law in the year 2010 The proposed California healthcare insurance marketplace is designed to offer consumers more choices of health insurance plans. A similar concept to an internet-based retail store is planned to allow individuals and employers to evaluate the health insurance plans’ performance against each other in side-by-side comparisons.

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Health Insurance For California Will Provide A Standard Set Of Benefits
To shield consumers from “small print” that could hide the exclusions and limitations that can drastically reduce the coverage that consumers think they’re buying in the first place, it is expected that the California healthcare insurance market will offer the same benefits. Health care insurance will cover specific benefits , while also offering different levels of cost-sharing including co-pays, co-insurance and co-insurance.

The Affordable Care Act isn’t just includes provisions that ensure that health coverage is more transparent as well as government subsidies that share access to health care for U.S. citizens who can’t afford California health insurance costs. The amount of financial assistance will be determined on income and family size.

The exchange could for the first time offer employees and individuals the opportunity to take advantage of a health insurance plan comparable to the ones that members of Congress are entitled to. Employers that provide health insurance benefits must alter how they cover their employees in order to make the transition to this new system. Employers can offer their employees vouchers-like premiums. Employees can make use of these contributions to choose a health plan from a variety of plans at various benefit levels and prices via the exchange.

With better clarity and a more uniformity between health plans that are offered through the exchange system and comparison of California health plans’ estimates will be much easier and provide consumers with an accurate understanding of what they’re buying. Also, they’ll have a better sense of security.
It is possible that the days of fraudulent health plans being sold at a discount will end within the next few years. As we’ve witnessed recently the lack of regulation hasn’t protected those who paid their premiums to insurance only to find that their medical bills weren’t paid due to the fact that insurance companies were allowed to take their money , without having the money to cover claims.

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It is still a work in progress but the California health plan exchange could be the first step in providing access to health care as a more fair and transparent business exchange, not an investment. The expansion of health care to more people offers benefits that are far more than benefits for families, individuals and small-business owners. Delaying treatment until emergency care is required is much more costly to society than providing preventative care. Both in terms of moral and financial cost the exchange for state funds is a great idea.