Insurance Company Participation in The New Health Marketplace Shows The Affordable Care Act will Have Positive Impacts on Wisconsin
Today the Wisconsin Office of the Commissioner of Insurance released the list of insurance companies that will be participating in the new health insurance marketplace as part of the Affordable Care Act set to begin October 1st. 13 companies will offer plans in the individual market, 9 in the small group market (including multiple nonprofit cooperative options.) The wide options for consumers, as shown by the number of insurers who applied to be part of the market, point to a successful effort to expand opportunity for consumers and competition in the market.
The central argument of this new health marketplace, as part of the Affordable Care Act, is that insurance companies must play fairly, and in doing so provide greater security and control for consumers. These companies must ensure that citizens can no longer be excessively charged more because of pre-existing conditions, gender or age - All are common practices in the current market. In turn, insurance companies are offered the opportunity, by taking part in this new marketplace, to access large numbers of consumers. Many of these consumers are leaving the ranks of the uninsured because of access to tax credits, increased opportunity and price competition because of the Affordable Care Act's health marketplace.
While the prices of these new plans have yet to be released, Citizen Action believes this is a positive sign that the Affordable Care Act will immeasurably improve people's lives. Contrary to the false assertion of opponents, the law will not destroy the health marketplace but instead guarantee greater security and control for the millions of Wisconsin citizens who currently struggle to access needed healthcare.