State-Run Health Insurance Exchange: Why the Argument?

There has been a lot of noise recently against the creation of state exchanges. However, the growing support for state health exchanges has ensured that the unnecessary clutter is cut out and more sense prevails. individuals, health professionals and businesses increasingly understand that health Exchanges offer the kind of marketplace that allows all of them to survive and that too in a much better way. It should be understood that though the realm of health insurance has been maximized under the healthcare reforms, many of the people still remain outside the reach of Medicare, Medicaid or other state-federal and community health programs. These are people whose income is a few hundred percentages of the poverty line figure. Thus, they need highly-subsidized health insurance. This refers to the most basic form of health coverage that is necessary for being treated as equals in the niche of medical care. This kind of basic medical coverage will be provided via the State Health Exchanges.

Many of the insurers were heard complaining about how they would need to redefine their online marketplaces in coherence with the health reforms since the Exchanges would introduce a new format to the consumer. However, as time has passed, more and more payers understand that there are plenty of medical insurance software solutions that can get this job done for them. Further, these progressive healthcare software systems will make life easier for insurers as their internal billing and patient data system would be directly linked to their private exchanges. The cost for adopting these insurance company software solutions will be realized in a few months, as insurers will benefit from better claim management, streamlining of internal workflows and eradication of fraudulent practices via the use of analytics. They would also be able to engage more consumers with the provision of better employee benefit management services.

Some support is also emerging from the brokers and agents who have understood that they State Exchanges don’t propose to eliminate them or threaten their existence. With the arrival of state exchanges, brokers and agents have the freedom of being engaged as assisters or navigators. In the Private Health Exchange format, they will be given a more streamlined way of working via dedicated insurance agency software solutions that will offer separate log-ins for brokers/agents, enabling them to follow-up prospective subscribers for health care enrollment.