Exchange (HIX) Customers
As a key provision of the 2010 Patient Protection and Affordable Care Act
State governments and private insurers are due to launch web-based marketplaces for health insurers are due to launch web-based marketplaces for health insurance (Exchanges) on January 1, 2014. These competitive marketplaces (Exchanges) will serve as one-stop shopping hubs through which low and moderate-income U.S. citizens and some non-citizen immigrants will learn about and ultimately purchase health insurance. Although over 50% of health insurance companies currently offer health insurance for individuals, the cost is prohibitive for many consumers. Under the Affordable Care Act, individuals who do not qualify for Medicaid and have incomes from 139% to 400% federal poverty level will be mandated to purchase insurance and will be eligible for federal tax subsidies.
Between 20 million and 23 million people will receive coverage through these new Exchanges (with 3 million to 5 million fewer people who will be covered by employer-based insurance) and some estimates project that 19 million Americans will be eligible for subsidies through the Exchanges. Estimates from Congressional Budget Office (March, 2012) suggest that 20 to 23 million people will receive coverage through these new Exchanges, with 3 million to 5 million fewer people who will be covered by employer-based insurance. The transparency of these Exchanges, which will provide decision support on prices and benefits, are anticipated to drive down prices. Exchanges also are likely to help rehabilitate the public image of the insurance industry, which ranks lowest in customer satisfaction among U.S. industries. For each qualified health plan offered, State Exchanges will provide clear, understandable information on:
- Claims payment policies and practices
- Periodic financial disclosures
- Enrollment
- Disenrollment
- Number of claims that are denied
- Rating practices
- Cost-sharing and payments with respect to out-of-network coverage
- Enrollee and participant rights
- Decision support activities may also include physician finders, "Help Me Choose" type applications, and side-by-side comparison of health insurance plans
Our company specializes in providing strategic, demographic and market information designed to enhance our health care clients’ bottom lines. One informational service we provide is the number of households (or families) in your service area according to federal poverty levels. With this information, your company will know the market potential or exchanges and can therefore extrapolate financial and market projections.
Through our proprietary system, developed by our experts, we have this information available at the geographic level you need.