What Is the Minnesota Health Insurance Exchange?

To best explain the Minnesota health insurance exchange, along with all other state exchanges, it's best to first explain the law that created the need for these exchanges.
The Patient Protection and Affordable Care Act (PPACA or as it's more commonly known, the ACA or ObamaCare) was signed into law in March 2010 by President Obama and it created the outline of the healthcare reform the USA is currently undergoing.
Parts of the law went into effect right away while other provisions needed to be phased in over time.
Aside from creating more restrictions on health insurance providers to allow more Minnesotans to be able to attain affordable healthcare, the most important provisions of the law are set to go into effect on January 1st, 2014.
Starting then, nearly all Minnesotans and US citizens will need to carry health insurance or face fairly significant penalties.
Along with creating these penalties, the ACA made provisions to provide federal financial assistance in the form of instant "tax credits" to individuals and families earning less than 400% of the poverty level.
Those making less than 138% of the poverty level in Minnesota will qualify for Medicaid.
With tens of millions of citizens qualifying for Medicaid or federal tax credits that will lower their health insurance premium, a system was needed to efficiently handle all of this demand.
The ACA outlined state health insurance exchanges that would be the online marketplace where individuals, families and small groups would be able to easily comparison shop and purchase health insurance plans.
Ideally, with all the plans that qualify for inclusion laid out in one place, competition for best price would ensue between the plan providers and the plans would become less expensive.
Because the state exchanges aren't open for business yet, it remains to be seen if this will happen.
What is guaranteed, however, is that each state will have a health insurance exchange open for business on October 1st, 2013! It's time to be a bit more specific and explore the Minnesota health insurance exchange now that the reasoning behind these online marketplaces has been explained.
First of all, each state had to decide whether to create its own exchange or have the federal government do so for them.
By creating its own exchange, Minnesota has been given more federal funding while enabling more customization and overall control over the intricacies by the state government.
Minnesota has been leading all other states in their organization and planning efforts and subsequent creation of their exchange, which is named MNSURE.
MNSURE is expected to help over one million Minnesotans sign up for Medicaid or MinnesotaCare (Minnesota's basic health program) or purchase their health insurance with or without federal assistance.
So far, from the versions that are available to the public, the exchange works very well, looks great and should be easy for the masses to understand how to use it.
Like all other state exchanges, the Minnesota health insurance exchange will open on October 1st, 2013 and 2014 plans will be available.
The Minnesota government was quick to appoint leadership of the huge task of creating MNSURE and because of their efforts and being ahead of many other states, they've received quite a bit of federal money.
These extra funds are all targeted to benefit the exchange and will aid in advertising, marketing, outreach programs and programs to assist those who need extra help using the exchange.
MNSURE is at the forefront of healthcare reform in Minnesota and from the looks of everything, those in Minnesota should be in good hands.