Perhaps the lynchpin offering of President Obama's health care reform legislation is the ability for consumers to buy subsidized health care policies in a competitive health insurance exchange.

Although they're not required to be fully operational until 2014, many states have taken advantage of federal funding to begin work on these exchanges. But if you're an average consumer, you wouldn't know it. And if you don't know what they are, how would you know that you might be eligible for a tax credit to help pay for premiums?

78 percent of consumers who would be eligible for new health care coverage under the Patient Protection and Affordable Care Act have never heard of the state-based health care exchanges where they will have to shop for coverage beginning in 2014. In addition, 60 percent of respondents said they believe they will need help in understanding health care insurance terms and descriptions and navigating the complex health care system.

Source: PR Newswire (http://s.tt/1d9ZT)

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.