New York State Begins Health Benefit Exchange

New York State has started recruiting insurance companies to provide coverage through the New York Health Benefit Exchange created under national health care reforms.

The Exchange says that plans must provide comprehensive health insurance coverage, follow limits on out-of-pocket expenses and meet other state and federal requirements to qualify to market insurance through the exchange.

Enrollment in the exchange will begin on October 1, with coverage beginning January 1, 2014. An estimated 615,000 individuals and 450,000 small business employees will get insurance through the exchange.

Insurers have until Feb. 15 to begin the process of applying to participate.