Healthcare Insurance Exchangeexchange of health insurance funds
.. It is expected that the Affordable Care Act will help to improve access to health care.
Which is the health insurance exchange?
For me, one of the most bewildering facets of the healthcare debates was trying to figure out what the insurance markets are actually going to do. It is a state-regulated market place for insurance policies with different stages or cover ratios that are available to people without healthcare or small businesses.
Presumably, the existence of state-regulated stock markets, like any viable one, will lower the price so that insurance policies for individuals and employers are both inclusive (i.e. they cannot save on necessary legal expenses or otherwise misuse customers) and highly competetive (i.e. sufficient supply will compel insurance undertakings to lower price to compete). What will the insurance exchange look like?
This is the on-line insurance comparator on the website of the Bundesbediensteten. Herszenhorn, David of the New York Times Prescriptions Blog, says that this website is "perhaps the best example of what such an exchange could look like. "What is so great about an insurance exchange? First, you can see from the graph above how simple it is to make comparisons between schedules.
As stock exchange blueprints will be clear, high value and "tiered", from the lowest to the highest cover, the innovators are hoping to transform the insurance markets into something more like a genuine insurance store where buyer bidding lowers the insurance cost. Second, since it is a place of markets for government-regulated schemes, each scheme must reach a high benchmark established by the federal authorities.
This means "prevention and universal service, emergencies, hospitalisation, medical treatment, ambulatory treatment, daily operations"... in other words, quite extensive covering even at the most elementary outcomes. "Establishing performance thresholds, restricting the number and differences between schemes and obliging each insurance company to provide insurance for a wide group of individuals with different healthcare needs would provide a powerful context for the performance available on an exchange.
Tighten the polices and make the comparison simple, and you have a proper exchange. However, even if the stock market is well conceived, it is up to the consumer to make wise decisions about their insurance. The comparison of insurances is different from the comparison of specifications and computer pricing, for example. Thus, someone could buy a healthcare plan that is very affordable if he is sane and lazy if he is ill.
When he gets ill, the expenditure out of his pockets could be ruined, no matter how clear and equitable the exchange was. So even a perfectly good exchange would be more of a source of vitamins than a cure-all for our healthcare costs problem.