24 States Have Selected Benchmark Insurance Plans
- By BSTQ Staff
According to a study from the Commonwealth Fund, 24 states and Washington,D.C., have selected a benchmark insurance plan that will determine what health insurance providers must cover in health plans sold in state exchanges and individual and small-group markets. As part of the Patient Protection and Affordable Care Act, these benchmark insurance plans must offer an essential health benefits package that covers 10 broad categories, including prescription drugs, pediatric and maternity care, emergency services, and substance-abuse and mental health services. If a state does not choose a benchmark plan by the Oct. 1 deadline, the federal government will designate the largest small-group plan in the state as the benchmark. Because the study found that 19 states chose existing small-group plans, which are the typical employer-based plans for businesses with fewer than 50 employees, the majority of states will have the most widely purchased small-group plans as the foundation for their essential benefits package.
