Use Health Exchanges to Get Fallon Health Insurance

Starting in 2014, Americans will be using health exchanges to shop for their health insurance.  The exchanges were put into place by the Affordable Care Act of 2010 and are supposed to be one-stop shops for Americans to get affordable insurance coverage from companies like Fallon Health Insurance.  The goal is for the exchanges to allow individuals and small businesses looking for health insurance to join forces and be able to purchase health insurance coverage together.  With larger purchasing power, they should be able to get affordable care at the kind of discounted prices that large businesses can.  Tax subsidies and cost-sharing discounts will also be given to individuals below a minimum income level to help with financial assistance.

According to Insurance Journal’s “Midwest States Getting $1M Each for Health Exchanges,” $49 million will be given out by the U.S. Department of Health and Human Services to help establish the health exchanges in individual states.  Illinois, Nebraska, North Dakota, and South Dakota will each receive $1 million to get their health insurance exchanges up and running.  All states were given the option to run their own insurance exchanges with companies like UPMC.  States that choose not to run their own exchanges will have one created and run by the federal government.  Those states receiving a portion of the $49 million will use that money to start their exchanges and determine how they will actually operate.

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