2012 is the year that the main components of the first federal affordable care ACT will be put in place nationwide. Greater priority, at least in New Jersey, is to develop a health insurance exchange – a virtual marketplace that will allow individuals and small businesses in comparison shopping for coverage.
Trenton is necessary to get the job done by June 30, which is the deadline to apply for about $ 5 million in federal grants for long term actually carry out the mandate of the Government insurance exchanges.
Health insurance exchanges are an important part of federal health reform. Supporters believe that if the Exchange is done correctly, they could extend health insurance choices and simplifies the process of decision making. Some proponents argue that online insurance Exchange can reduce the cost of health coverage, although it is certainly in contention.
In 2010, New Jersey received initial $ 1 million federal grant has funded an extensive planning process directed by the Department of State, banking and insurance. Rutgers Center for State health policy (RCSHP) was commissioned by the DOBI to evaluate a wide selection of State policy must address such as the design of the Exchange, and to hold a stakeholder forum–health care providers, insurance companies and brokers, consumer advocates, and business groups–to gather their views on what the Exchange should look like.
The Center, led by Director Joel Cantor, have been holding more than a dozen stakeholder Forum for a few months. These meetings have resulted in at least one key point of agreement: New Jersey must create and run a exchange itself. If not, the federal Government will step in and run the exchange for the country.