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Deadline for health exchange decision looms

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RICHMOND, Va. (WTVR) - Virginia officials must make a final decision on whether or not  to use a state or federal exchange program under the Affordable Healthcare Act.

The health exchanges will create online marketplaces where small businesses and individuals can find affordable insurance plans.

Many states were waiting to see the results of the presidential election before deciding whether to set up an exchange, which is the case with Virginia.

The Commonwealth has asked for an extension in making a decision.

A spokesperson with the governor's office says if the extension is not granted, Virginia will automatically enter the federal exchange program, and the state won't have a say in how the marketplace is run.