A provision in the Patient Protection and Affordable Care Act which was signed into law last year by President Barack Obama requires all U.S. states preparing to set up health insurance exchanges or have federal regulators step in to do it for them. Maryland is already moving to meet the 2012 deadline, according to the Baltimore Business Journal.
A Democratic state Senator, Mac Middleton, told the publication he does not see any serious opposition from the Republicans on this issue, given how unlikely the national GOP is to be successful in its efforts to repeal the PPACA.
However, no plans have been finalized as yet, the Business Journal said, pointing out that no bills have been introduced in the state legislature and the full outline of the state’s health insurance exchange is very much up in the air. Nevertheless, a vote is expected on the issue within the calendar year.
Advocates say the health insurance exchanges will allow ordinary Americans to wield the kind of bargaining power usually only enjoyed by large corporations when negotiating rates with insurers, but critics maintain the plan will prove too costly.
As states prepare, we will continue to provide information for how you can best find a life insurance policy that suits your needs.
View more of our articles here.