According to The Wall Street Journal , about 8.3 million people may find themselves looking for insurance coverage through the exchange California.
The state exchanges allow consumers to compare insurance plans - similar to GoHealthInsurance.com. Exchanges will also allow California residents and small businesses to see if they are eligible for grants, tax credits, or Medicaid.
However, a provision in the bill in California draws some criticism from health insurance companies.
The new exchange will be launched by a new board. This council will have the power to contract with insurance companies and certain plans offer only in trade. Insurers fear that the exchange could limit the amount of choice on the exchange - hurt insurers and consumers.
It is not known how this exchange and new board will cost California each year.
California also has just approved rate increases that were requested by Anthem Blue Cross and Blue Shield for individual health insurance plans. Insurance companies have received much criticism for rate increases, but they have been approved by the California Department of Insurance.
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