Many New York Small Businesses May Crave an Exchange, Study Says

Among  businesses that do not currently provide health insurance to their employees, 60% said they would be more likely to offer coverage if an exchange was available.

Indeed, many small business respondents were not even familiar with exchanges before hearing them described by the researchers; only one in five (19%) are familiar with health insurance exchanges, the study found. New York still needs to pass the enabling law. The Governor and State Assembly have approved a health insurance exchange bill, but the Senate has yet to adopt a similar measure.

The Patient Protection and Affordable Care Act (PPACA) of 2010 requires states to create their own exchanges to give small businesses access to affordable health care coverage or be included in a federal exchange. The law gives states the freedom to design Affordable Insurance Exchanges – one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs. The exchanges are to begin operating by Jan. 1, 2014.

Forty-nine states and the District of Columbia have already received planning grants, and 45 states have consulted with consumer advocates and insurance companies. Thirteen states have passed legislation to create an exchange, according to the Department of Health and Human Services.