Ihealthinsurancecalifornia CEO Applauds the State's Effort to Set up Exchange

Top Quote The CEO of ihealthinsurancecalifornia, John Ray, has expressed his happiness over California becoming the first state to set up the state-based health insurance Exchange. He believes that the Exchange will encourage competitive pricing that will benefit the consumers the most. End Quote
  • (1888PressRelease) October 28, 2010 - Sacramento, - ihealthinsurancecalifornia, Inc. (www.ihealthinsurancecalifornia.com), John Ray, the CEO of ihealthinsurancecalifornia, has congratulated California to have become the first state to have set up an insurance Exchange. The governor of California, Arnold Schwarzenegger, signed the legislation on September 30. The state was able to set up Exchange as the legislation was still in session to adopt 2011 fiscal budget while other state legislations had adjourned.

    Though Massachusetts and Utah already have state Exchange, they do not have federal certification yet. Expected to be completely self-sufficient by 2015, the California Exchange is the first to be set up according to the federal health reform guidelines. The Exchange will be run by a board consisting five members who are expected to meet for the first time in March 2011.

    According to California Legislative Analyst's Office, the state Exchange will start offering individual and group insurance for businesses with less than 100 employees. It is expected that by 2017 the Exchange will provide insurance to large companies as well.

    The American Medical Association and California bills will serve as a starting point for the other state lawmakers who are working on their state insurance exchange legislations.

    The California Insurance Exchange will provide certifications to health plans, have adequate provider network, and provide easy to understand standardized information. It will serve as a market place where insurance companies can display their products for the benefits of the consumers and the customers are able to purchase health plans at the most competitive prices. The Exchange will also operate a Web portal and a toll-free phone number to advice residents on health plans options and costs in the state.

    John Ray believes that the Exchange will change drastically change the way residents buy their health plans. The insurance market will become competitive and it is the consumers will stand to gain the most from it.

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