IL considers two bills for healthcare exchange

The Illinois Senate is considering two bills that would determine how the state's healthcare exchange will function after October, 2014.

The federal government is expected to operate the Illinois benefits marketplace in partnership with the state for its first year. In October, the government will hand the reigns completely to the state.

The two bills differ in their provisions for the type of insurer oversight necessary to operate the exchange, reported Crain's Chicago Business.

Senate bill 34, backed by Senator David Keohler, would establish stricter requirements for insurance providers looking to sell plans on the exchange. Coverage options would have to be approved by the exchange's governing board. The bill would also only permit one insurance company representative on the board.

Meanwhile, Senator William Haine's Senate bill 1717 would have less stringent terms for insurers and allow them to occupy up to four board seats.

Governor Pat Quinn, who originally voiced support for a state-run exchange, declared Illinois would operate the marketplace alongside the federal government after one year of its implementation. The state's plan received conditional approval from the department of Health and Human Services in February. Beginning in 2015, Illinois will be in charge of consumer assistance and plan management.