The Obama Administration has published new regulations providing some additional guidance on the establishment of Health Insurance Exchanges, Qualified Health Benefits and what will qualify as Essential Health Benefits.
Under the Affordable Care Act, state or federal healthcare marketplaces (they are no longer referred to as Exchanges) will offer Qualified Health Plans to individuals and small businesses. In order for a plan to be considered “Qualified” it must offer what are referred to as “Essential Health Benefits.”
As of late February, the Obama Administration issued rules defining the Marketplaces, what plans must do to become Qualified, and identified the types of benefits these plans must offer.
The Center for Consumer Information & Insurance Oversight has published a list of states that have been approved thus far to operate Health Insurance Marketplaces for the federal government. At this time, a majority of states have opted to allow the federal government to operate the Marketplaces. 18 States have sought and received authority to establish and operate Health Insurance Marketplaces, and another three states have received conditional authority to run “partnership” marketplaces.
ADVOCATE will provide more information as it becomes available.
Kirk Reinitz, CPA