The online exchange will allow individual and small businesses to shop for and compare health insurance options by 2014.
"The governor used this example and I will borrow it from him. It's like a Travelocity for insurance," said Rep. Gail Haines, chair of the Michigan House Health Policy Committee.
The deadline is coming soon for the state to decide if it'll create such an exchange on its own or pass the responsibility to the federal government.
"It's kind of a catch 22 in that they're asking us to make a decision, but the federal government hasn't answered all the questions asked by the state to know how to make the most informed decision," said Gov. Snyder.
The original deadline to submit the blueprint for the exchange was this Friday, but the deadline was extended to December 14th.
Gov. Snyder says Michigan is on the path for a federally-run health exchange, but he wants some state contribution.
"My preference is to say how can the state be involved because I think we're closer to the customer and could provide better service," said Gov. Snyder.
However, Rep. Haines says the number one question of how much it will cost Michigan taxpayers still hasn't been answered.
"We still feel we have time to continue to discuss all the issues surrounding this very important issue," she said.