The exchange will be an online marketplace for individuals and small businesses to compare health insurance plans.
New York becomes the eleventh state to form a health insurance exchange and only the second — behind Rhode Island — to use an executive order to establish one. There’s a lawsuit challenging the governor’s order in that state.
The PPACA requires individual states to institute a health insurance exchange by 2014. If states fail to get one started, the federal government will step in and institute one.
More Articles on States and the PPACA:
20 States That Received the Most PPACA Funding So Far
Study: Consumers Would Have Saved $2B if PPACA Took Effect in 2010
While Some States Propose Medicaid Cuts, Others Look to Invest
