Will health insurance exchange be ready?
Thousands of state residents are expected to rush in to enroll, but a lot remains to be done in the next few months including overcoming IT issues, hiring personnel and approvals of insurers wanting to take part.
Officials with the exchange say they’ll be ready, but concerns have been raised about the enormous undertaking the exchange has become, both in terms of manpower and financial resources; more than $62 million in grants already have been dedicated to setting up the exchange.
Compared to many other states, Colorado’s exchange is far ahead. Only 18 states have taken steps toward setting up their own exchanges, which are mandated under the Patient Protection and Affordable Care Act.
Colorado was among the first six states to get federal approval for its exchange. The basic idea behind the exchanges is to create a more organized and competitive market for buying health insurance.
Exchanges will offer a choice of health plans. Not all will qualify, but those who purchase insurance via an exchange will be eligible for government subsidies.
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