Insurance Exchanges – Affordable Care Act (ACA)

The Patient Protection and Affordable Care Act (PPACA or ACA) has been implemented to ensure that all U.S. citizens will have access to health insurance with certain essential benefits. According to the ACA, each state or the federal government will establish a health insurance market place or “exchange”.  At this health insurance exchange, you are going to get access to health plans that will provide insurance coverage for many medical needs.

Health insurance exchanges offer an alternative for those people who have no other access to health insurance. By law there are to be several plan types so participants in the exchange can purchase health insurance according to their needs and budgets. Exchanges will expand choices by offering an additional other option for buying health insurance for individuals and families. Affordability and choice is primary goal of the PPACA. However, for those with limited incomes the ACA established a subsidy.

California has chosen to create its own exchange rather than relying on the federal government. The exchange being established in California will be marketed and known as “Covered California.”  The umbrella program is in development stages at present. You can expect to hear more about coverage, costs, deductibles and co pays in the months ahead.

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