Our experienced and talented physicians and nurses working at the health care clinics operated by the Front Range Primary Care in Trinidad, Denver and Thornton, CO, are motivated to make continuous adjustments to the offered medical services to ensure compliance with the most recent developments in the healthcare system. Our medical staff members continuously educate themselves on ways to make medical care, especially for emergency situations, more affordable and accessible. The Affordable Care Act (ACA) was elaborated by the President’s administration and approved by Barack Obama in 2010. However, most reforms, including the establishment of state or region-operated healthcare insurance exchanges, will be effective starting January 2014. One of the most prominent reforms generated by the Affordable Care Act, also known as ObamaCare, consists in the creation of marketplaces where the offers of private insurance providers will be centralized on a state or regional level, which will cause the market to become more competitive and may result in lower insurance premiums.
A Healthcare Exchange is a Marketplace for Health Insurance Plans
Before the ACA became effective, private insurance providers were able to select their customers based on various parameters, which allowed them to charge higher insurance prices and select convenient, low-risk clients. This trend has led to a staggering number of uninsured Americans that reached 50 million individuals by 2010. Among many other health care reforms, the Affordable Care Act stipulates the creation of state-run healthcare exchanges, where insurance providers will list their standardized health insurance plans. Americans will be able to access the marketplace organized in their home states, and select between the multiple offers the one that suits their budget and coverage needs. The healthcare exchange strictly regulates the amount of insurance premiums offered by private companies, and any price increase should be rigorously justified. Americans can also purchase an insurance plan in multi-state or regional healthcare exchanges, which will result in a wider access to healthcare and competitive, lower prices. Essentially, a healthcare insurance marketplace is a one-stop shop for a convenient healthcare plan, where offers and prices and strictly regulated on a federal level, resulting in increased transparency, lower prices and better quality of healthcare.
States are Encouraged to Operate a Healthcare Exchange by January 2014
Every state is encouraged to centralize health insurance offers in a healthcare marketplace by January 2014. States may choose to enroll in multi-state marketplaces, or participate in regional exchanges. If a state decides not to operate a health insurance marketplace, then the federal government will organize one to ensure that every individual has access to high-quality, affordable insurance. The health plans will be categorized into four groups depending on the amount of insurance premiums, which are bronze, silver, gold and platinum. Each group will contain standardized offers strictly regulated by the government, and insurance providers no longer have the freedom to deny coverage to individuals with a pre-existing disease, or use any other reasons to increase the premiums besides those clearly stipulated in the Affordable Care Act. At the Front Range Primary Care clinics, our doctors are confident that healthcare exchanges will contribute to better access to affordable healthcare, which will increase patient satisfaction and will result in a higher income for primary care doctors.