The New York health insurance system has recently passed legislation that allows the creation of the New York Health Benefit Exchange.  This keeps New York in line with the Affordable Care Act and allows them to potentially receive federal grants to help the exchanges grow.  The Senate has not passed the legislation yet so it’s possible it may still be overturned.

The Affordable Care Act says that all states must start up health insurance exchanges by 2014 to encourage organization and competition to help the uninsured find coverage.  States that do not comply will have the US Department and Human Services create exchanges for them which wouldn’t be ideal because the state would lose a lot of control over the funds.  People who do not purchase health insurance by the time all of this is implemented may face fines.  With about 2.7 million New Yorkers going without insurance, it will create some big changes.  The goal is to make health insurance quotes easier to obtain and more competitive for all residents.

Assembly Speaker Sheldon Silver is quoted in the article “Assembly Passes Bill to Comply With Federal Health-Care Law” by Cara Matthews on Polhudson’s website, as saying that he believes no one should have to live without affordable, quality health insurance.  He expects the New York Benefit Exchange to offer many New York residents with top notch health insurance which should ultimately help the health care system.  He says the benefits of the program are promising and he plans on working closely with the New York government to ensure the system is implemented effectively.