Department of Health and Human Services (HHS)
Is every state required to administer an Exchange per the ACA?
The final sections address types of enrollment assistance available to exchange consumers and federal funding for the exchanges. The Patient Protection and Affordable Care Act (ACA; P.L. 111-148, as amended)
required health insurance exchanges (also known as marketplaces) to be established in every state
.
What are the exchanges mandated by the Affordable Care Act?
The ACA establishes two types of insurance exchanges:
the American Health Benefits Exchange (AHBE) for individual purchasers and the Small Business Health Options Program (SHOP) for businesses with fewer than 100 employees
, although until 2016, states retain the discretion to limit eligibility to businesses with fewer …
What are ACA marketplaces?
What Is the ACA Health Insurance Marketplace? The Health Insurance Marketplace is
a platform that offers insurance plans to individuals, families, and small businesses
. The Affordable Care Act (ACA) established the Marketplace as a means to extend health insurance coverage to millions of uninsured Americans.
What is the CMS Administration?
Administrator. Chiquita Brooks-LaSure is the
Administrator for the Centers for Medicare and Medicaid Services
(CMS), where she will oversee programs including Medicare, Medicaid, the Children’s Health Insurance Program (CHIP), and the HealthCare.gov health insurance marketplace.
Who is responsible for regulating the insurance industry quizlet?
The insurance industry has been regulated primarily at
the state level
rather than by the federal government. State legislatures are responsible for establishing and overseeing state insurance departments and regularly review and revise state insurance laws.
Why were exchanges implemented by the Affordable Care Act?
The exchanges are intended
to increase competition among insurers and focus that competition on value and price
. A number of provisions of the ACA should help to facilitate this objective. Administrative costs. The ACA requires exchanges to fulfill a number of administrative functions that will add to their costs.
Which states have state-run exchanges?
Nevada transitioned to a fully state-run marketplace as of the fall of 2019; New Jersey and Pennsylvania followed suit as of the fall of 2020.
New Mexico, Maine, and Kentucky
have fully state-run exchanges as of the fall of 2021, for the 2022 plan year.
What are the exchanges mandated by the Affordable Care Act quizlet?
The ACA requires the establishment of “exchanges,” which are:
state-based marketplaces where consumers can obtain ACA-compliant health plans. subsidies to purchase private health insurance. government-based marketplaces for Medicaid coverage
.
Who created the Affordable Care Act?
The Affordable Health Care for America Act (or HR 3962) was a bill that was crafted by
the United States House of Representatives of the 111th United States Congress
on October 29, 2009. The bill was sponsored by Representative Charles Rangel.
What are health exchanges designed to offer?
The Affordable Care Act (ACA) requires that health insurance exchanges be established in every state by January 1, 2014. The central purpose of these new Marketplaces is to
enable low and moderate income individuals, and small employers to obtain affordable health coverage
.
What is the policy that implemented the ACA and when was it signed?
The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act, and colloquially known as Obamacare, is a landmark United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on
March 23, 2010
.
What are health insurance marketplaces and who are they meant for?
The Health Insurance Marketplace is a resource where individuals, families, and small businesses can:
Compare health insurance plans for coverage and affordability
. Get answers to questions about your health care insurance.
How many state based exchanges are there?
Historic declaration letters and other correspondence from States related to Exchange establishment can be found here. As of November 1, 2021, there are 18 SBEs, and
3 State-based Exchanges
on the Federal platform (SBE-FPs).
What group are SHOP Exchanges specifically designed to serve?
A SHOP is designed specifically for
employer-sponsored health insurance coverage
, whereas the individual Exchanges are designed for individual health coverage that is not tied to one’s employment.
Who is the director of the CMS?
Today, the Centers for Medicare and Medicaid Services announced
Dr. Meena Seshamani, M.D., Ph. D.
as Deputy Administrator and Director of Center for Medicare.
Who is over CMS?
The Centers for Medicare & Medicaid Services, CMS, is part of the
Department of Health and Human Services (HHS)
.
Is CMS a government agency?
The federal agency
that runs the Medicare, Medicaid, and Children’s Health Insurance Programs, and the federally facilitated Marketplace. For more information, visit cms.gov.
Which party does a broker represent in an insurance transaction?
There are two main differences between insurance agents and brokers: Agents represent insurers, while
brokers represent consumers
. Agents can complete insurance sales (bind coverage), while brokers cannot.
What is the role of state government in the regulation of insurance companies quizlet?
What is the role of state government in the regulation of insurance companies?
State governments have traditionally regulated health insurance companies for the protection of the public
, and Congress chose to leave the regulation of the insurance business primarily to the states.
What is the main reason for regulating the insurance industry quizlet?
The purpose of regulating insurance company investments is
to prevent insurers from making unsound investments which could threaten their solvency
.
How was the Affordable Care Act implemented?
The law was enacted in two parts: The Patient Protection and Affordable Care Act was
signed into law on March 23, 2010 and was amended by the Health Care and Education Reconciliation Act on March 30, 2010
. For More Information: Read the Full Law.
What federal legislation created health insurance exchanges that provide individuals with an ability to purchase insurance?
Beyond subsidizing coverage and regulating the insurance and group health plan markets,
the Affordable Care Act
creates state health insurance Exchanges for both individuals and businesses.
How do providers benefit from the health insurance exchanges created under the Affordable Care Act?
By
pooling people together, reducing transaction costs, and increasing transparency
, Exchanges create more efficient and competitive markets for individuals and small employers.”
What states have their own HealthCare exchanges?- California (Covered California)
- Colorado (Connect for Health Colorado)
- Connecticut (Access Health CT)
- District of Columbia (DC Health Link)
- Idaho (Your Health Idaho)
- Kentucky (Kynect)
- Maine (CoverME)
- Maryland (Maryland Health Connection)
Is Medi-Cal a state-based exchange?
The Exchange will screen for and enroll individuals in Medi-Cal or the Healthy Families Program if they are eligible for those programs.
The federal law requires state exchanges to perform this function
.
How many exchange options do the states have under the Affordable Care Act quizlet?
IF YOU CHOOSE STATE-BASED, you have
3 options
: 1. Market facilitator – Offers all qualified health plans. State is impartial, they are really just providing a structure for people and businesses to compare/purchase plans.
