Exprexxo Thoughts

There are no S's in Exprexxo!

Tuesday, November 05, 2013

A way for the Affordable Care Act(ACA) to work with less dependancy/burden on the government

I propose that the US Health and Human Services take a page out of the SEC playbook: XBRLeXtensible Business Reporting Language. In the market place of public companies, it became important that 10k statements become comparable. The SEC created an expectation of embedded tags that allowed for common query and an parsing of statements made by hundreds of companies.   By doing so they were able to shift the burden of comparison to the marketers of the information.   The ACA could require a similar tagging expectation and placement of the policy offerings in the internet.    Call it XICL, (eXtensible Insurance Comparison Language, for this conversation.  Each insurance company would be required to place xIcl tags around the terms of an insurance policy such that google/yahoo/bing can find the data.   The government would then only have to audit the internet postings instead of presenting an application.  The market place would then be two fold: many compatible policies in the internet, and many apps to compare them with, as developers decide they can do better that what has been done before.    The concept would be global, meaning all states would see what other states have and there would be additional pressure for national equality.  There is no need for the government to provide app, only the need for governance of the data format and data availability.  As to rebate/subsidies, they would be presented at check out like discount coupons are in any internet marketing model.   The government would distribute a discount code during the processing of tax returns. There would be no second look-up needed and the insurers would need to only match discount code and social security code to a single IRS provided table.   We could move the national policy signup window from Oct15-Nov15  to Apr15-May15 as a result of connecting the process to filling taxes.    The ACA needs simplification from an information view point and the internet already has vibrant marketplaces, no need to make a new one.