SACRAMENTO – California Assembly Speaker John A. Pérez (D-Los Angeles) issued the following statement today after the Assembly passed AB 1602 to establish the California Health Benefit Exchange:

"The Patient Protection and Affordable Care Act was a historic victory for every Californian who worries about being able to afford health insurance or who risks being denied coverage because of a pre-existing condition.  I am pleased to author AB 1602, which implements one of the key components of the federal health reforms, the California Health Benefit Exchange.  The Exchange will be the consumer friendly marketplace where individuals and small businesses can easily understand their insurance choices and costs and, most importantly, where they can claim their federal premium subsidies and tax credits to buy affordable coverage. In establishing the Exchange, California is positioning itself to help working people and small business draw down several billion dollars in available federal tax credits.  In a state with the most uninsured and underinsured, where close to 2 million people lost their job-based coverage in the last two years because of the recession, AB 1602 is a major step forward for all Californians."

AB 1602 next goes to the governor’s desk. Click here to view the attached document for more details on the bill.