What is an Exchange?
An Exchange is an organized marketplace designed to help people shop for and enroll in health insurance coverage. Individuals, families and small businesses will be able to use the Exchange to help them compare commercial insurance options, calculate costs and select coverage online, in person, over the phone or by mail. The Exchange will also help people to check their eligibility for health care programs like Medicaid and sign up for these programs if they are eligible. The Exchange will also be able to tell what type of financial assistance is available to applicants to help them afford health insurance purchased through the Exchange. Insurance coverage can be purchased through the Health Benefit Exchange beginning in October 2013 and will be effective January 1, 2014.
Under the federal Affordable Care Act, an Exchange will be operating in every state starting in 2014. States have the option to either set up an Exchange themselves or to allow the federal government to set up an Exchange in their state. New York has chosen to set up its own Exchange, called the New York Health Benefit Exchange. On April 12, 2012, Governor Cuomo issued Executive Order #42 to establish it within the NYS Department of Health.
On July 9, 2012 Governor Cuomo submitted a declaration letter to the Centers for Medicare & Medicaid Services confirming New York's intent to establish a State-based Health Benefit Exchange consistent with the Affordable Care Act. Open enrollment for health insurance purchased through the Exchange will begin in October 2013 for coverage that begins on January 1, 2014.
The New York Health Benefit Exchange has established five Regional Advisory Committees pursuant to Governor Cuomo's Executive Order No. 42 to provide advice and make recommendations on the establishment and operation of the Exchange, including recommendations about relevant regional factors. The five Committees represent the following regions of the state: Western NY, Central NY/Finger Lakes, Capital District/Mid-Hudson/Northern NY, New York City/Metro, Long Island. Each committee is comprised of representatives of consumers, small business, health care providers, insurance agents and brokers, labor organizations and other stakeholders.