Healthcare Insurance Exchanges, the online market places scheduled to launch on January 1, 2014 will be designed to provide low-cost health insurance options to millions of uninsured Americans. While the exchanges will give buyers more flexibility and control over choosing their insurance plans, they will also promote more transparency and competition among health plans. The Health Insurance Exchanges once launched, may alter the face of the ailing U.S. healthcare industry.
However the U.S. states need to rise up to the challenge of meeting the federal deadline of setting up fully operative exchanges by January 1, 2014. Not only that, the U.S. states have been mandated to submit a well-structured proposal by January 1, 2013 - outlining the design the state exchanges will operate on.
With both the deadlines slowly edging closer, states need to gear up in their HIX efforts to propose at least a basic plan of how their exchange will operate. While Massachusetts and Utah already have functional state exchanges, their modus operandi is entirely different. States may create their exchanges completely in line with either of these designs or may amalgamate the best features of both to come up with an innovative, unique design. In all scenarios, time is of essence if the states don't want the federal government to step in and run its own exchange.
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