The Patient Protection and Affordable Care Act was signed into law on March 23, 2010 with the intent to expand access to health care, provide more choice, enhance competition and lower costs. Undoubtedly, it's a massive and complex law with many politically charged points of view. Putting political affiliations aside, I thought it might be helpful to provide some clarity to common misunderstandings now that PPACA implementation is near.  

• Public Exchanges: Exchanges truly provide a unique, new marketplace for individuals and small groups with 50 or fewer employees to shop for coverage. The big fundamental question is, "if you build it, will they come?" The key to success rests with the public's buying behaviors and whether these exchanges will ultimately meet the public's need.  While exchanges are a good option, employers and individuals can still purchase insurance in the private market and, in doing so, meet the requirements of the law.
• Coverage: For individual and small group plans, the law defines essential health benefits to also include pediatric dental and vision care. Pediatric dental can be embedded within a medical plan or purchased on a stand-alone basis (separate from medical). However, pediatric vision must be embedded in the medical plan.
• Small employer tax credits: If eligible, small employers can gain direct access to tax credits but only for health coverage purchased through one of the new Small Employer Health Options (SHOP) exchanges. The credit will only be available to an employer for two consecutive tax years. 
• Premium subsidies: To help cover the cost of insurance, premium subsidies are available to those who qualify for financial assistance. These subsidies are available only to individuals, only when coverage is purchased through the individual exchange, only when employer sponsored coverage is deemed unaffordable and only when the individual's income is below a certain threshold.
• Required coverage: The individual mandate requires all Americans to purchase insurance beginning in 2014, if not already covered by a plan. For Americans who lack coverage, they may be subject to a fine, which starts at $95 in 2014 and increases to $695 in 2016. 
• Access to an Advisor: Exchanges can offer assistance through a navigator. However, navigators should not be confused with advisors. Navigators are trained on how the exchange works; they can't offer advice about satisfying personal needs or recommending insurance, benefits or plans.
• Technology: When exchanges first open for business, they will have some limited functionality due to complicated technological requirements and the lead time required for full integration.  

It'll be a different world when exchanges take shape later this year. But, one thing is for sure, your role as an advisor is still critical for both employers and individuals.

People will still find their options confusing, people will still need help and people will still turn to a professional advisor for direction. Hopefully, these clarifications help you chart your role and get just a little more prepared for the new landscape ahead.