California has become the first state to create a health benefit exchange - one of the anticipated changes marked by healthcare reform. Governor Arnold Schwarzenegger signed the legislation on September 30.

States have until 2014 to have a health benefit exchange in place. The goal of the exchanges is to provide people with a place to compare different plans and access affordable health insurance quotes.

Kim Belshe, California Health and Human Services Agency secretary, says the health insurance market will help bring affordable options to millions of residents.

"The exchange will focus competition on price, quality and service - giving individuals and small business employees the same large-group purchasing advantages and more affordable options now enjoyed by those who work for large firms."

A family of four residing in California with an income under $88,000 may be eligible for healthcare tax cuts in 2014.

The U.S. Department of Health and Human Services announced in September it was awarding states up to $1 million in aid to help establish health benefit exchanges.

Earlier this year, the government also unveiled a website to help consumers learn more about health insurance options and new laws.