Several states are in the process of setting up health insurance exchanges, which are included in the health reform law and intended to promote competition among insurance companies. This competition would give consumers several plans to choose from, according to the report.
Health reform mandates that if states do not set up health insurances, the federal government will step in and set up the insurance for them. Michael Leavitt, secretary of the U.S. Department of Health and Human Services, impressed this fact upon North Dakota committee members as he encouraged them to take charge of the process.
Lawmakers ordered state insurance and human services agencies to plan for a health insurance exchange earlier this year at the Legislature’s regular session. Lawmakers budgeted $1 million to set up the exchange.
Read the Bloomberg Businessweek report on health insurance coverage.
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