As Congress continues to meet to discuss the raising of the debt ceiling and tax law reform, President Obama revealed this week the landscape for healthcare reform.
The new system, known as “Exchanges”, creates marketplaces that will give families and small businesses the opportunity to shop for insurance, compare prices and buy coverage.
Under the current rules, an employer may give employees the option of choosing a particular health plan at a specific level of coverage. The revised plan will state that employers with fewer than 100 workers will be able to use the exchange, and be forced to offer plans with a minimum level of coverage.
The majority of American citizens see the new plan as a way to increase the purchasing power of individuals and small businesses.
According to the New York Times, the plans have been welcomed by consumer groups, patient advocates and some business lobbyists.
Secretary of Health and Human Services Kathleen Sebelius has told the New York Times, “(the plan) will offer Americans competition, choice and clout.
“In theory, the exchanges will pool insurance risks and premiums so that individuals and small businesses will have the same purchasing power as big businesses.”
According to the LA Times an estimated 24 million Americans will receive their health insurance by exchange by 2019.