House Health Insurance Exchange 05 Mar 13

The Minnesota House on Monday voted to create a “Health Insurance Exchange” for the state. It’s part of the federal health care reform law that calls for the creation of state-level health exchanges for individuals and small businesses to buy coverage beginning in October. The bill passed the House 72-58. Minnesota families are projected to save more than $1-billion by using the exchange to purchase insurance – with the average family reportedly saving $500 and a lower-income family saving approximately $1,800. Nearly 200,000 small businesses employees are also expected to access coverage through the exchange. The Senate will vote on their version of the Health Insurance Exchange bill later this week.