With individual health insurance becoming a mandatory requirement in January 2014, it’s time to become aware of what is expected of you as an individual, and the responsibility of the individual exchanges. What are the responsibilities of an exchange?
The exchanges carry the burden of making sure health care providers comply with the minimum standards in providing health care. They are the “store” that carries a variety of products that will be offered for consumer selection. The exchanges will make sure all consumers are aware of pricing, quality ratings and performance and will also have the responsibility of making sure enrollees who qualify for subsidies and exemptions get the proper credit. Employers will have the advantage of having the exchanges work with them to make sure they are in compliance. By using an exchange, individuals and businesses should have smoother transitions in enrolling into health plans and complying with the law. Although making sure you are enrolled into a health plan is your obligation, using the exchange for information should make things a lot easier.
For more information on health insurance exchanges and compliance with the Affordable Care Act, contact Bernardini & Donovan Insurance Services.