Statement by President Obama on California Health Benefits Exchange Legislation

I want to congratulate Governor Schwarzenegger, Speaker Pérez, President Pro Tempore Steinberg and the members of the California State Legislature for passing and signing the bipartisan California Health Benefits Exchange legislation.   They are taking an important early step toward reforming our private insurance marketplace so that California families and small businesses will have high quality and affordable health insurance choices in 2014 when reform is fully implemented.  I look forward to continuing to work with and provide resources and support for all states as we work toward creating a new competitive health insurance system that lowers costs for consumers and businesses, increases quality, and reduces our deficits.