Carl Maio joined The Beat on August 19th.  Carl is a lawyer with Fox Rothchild LLP who specializes in Health Insurance Law and Regulations.  During the interview, Carl utilized his expertise and his knowledge of the 1018 page draft legislation to answer questions from Todd and Jeff.

First: the definitions:

     The current draft legislation provides for small business to purchase health insurance through an "Insurance Exchange," according to Carl, preumably permitting small business to choose among a multitude of plans.  While this inruance exchange is undefined in the draft legislation, an exchange refers to "an entity providing a marketplace for insurance coverage that is generally unavailable elsewhere, for unusual or non-standard rates."  Unlike insurance companies, insurance exchanges do not underwrite insurance coverage.  Rather, they are non profit organization that over its underwriting members or "syndicates."  In this capacity, exchanges receive premiums, supervise underwriters and monitor theur solvency.  Lloyds of London is the world's foremost insurance exchange.  INEX (formerly the Illinois Insurance Exchange), is the leading Insurance exchange in the United States.

A co-op or cooperative insurance us insurance for fraternal societies, employee associations, industrial associations, trade unions, or other mutual associations.  A cooperative is a controlled insurance program.

The "public option" - is a nebulous term for an insurance company under government control that will, according to President Obama, "will keep the private insurers honest." 

Keep your eyes on this space as we continue to update you on the health care reform debate.

Special thanks to Carl Maio for providing much of the information above.  His opinions are his alone and not necessarily of Fox Rothchild LLP.