Understanding The Health Care Exchanges

09.19.13 | Bob Price

As part of the Affordable Care Act, health insurance exchanges were mandated for people without insurance. Think of the insurance exchange as a supermarket. Just as there are multiple brands of peanut butter and jelly, this new health market will offer a variety of insurers, giving you options. The market will be available for the uninsured or those who want to look for cheaper alternatives. There are two types of exchanges, one provided by the state and another by the federal government. The exchange also provides subsidies or tax credits for those who are income eligible. Those who choose not to buy insurance, will be penalized.  Many conservatives fear this exchanges will drive up the cost of health-care and make it more difficult to get quality care.  Be sure to tune into this Friday's edition of "Capital Connection" during the Noon Report as we explore more the impact of the Affordable Care Act.  Enrollment begins October 1 and coverage begins January 2014.