Marketplaces Are Major Component Of Obama Health Care Plan

TRENTON, N.J. (CBSNewYork/AP) — Many uninsured New Jersey residents may begin choosing health plans this week, as online insurance changes launch across the country.

The marketplaces are a major component of President Barack Obama’s health insurance overhaul. They launch Tuesday.

The New Jersey program is one of 36 being run by the federal government, because Gov. Chris Christie declined to have the state oversee it.

The state has about 1.3 million uninsured residents, and the majority of them are expected to be eligible for the exchange, which will offer plans from three insurance companies.

The price tags on plans are less than many people with private insurance in the state pay now, and federal subsidies will be available for many who sign up, depending on their incomes.

The coverage is to begin Jan. 1.

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