The Department of Health and Human Services announced yesterday the availability of up to $1 million in grants per state to help states and other stakeholders begin health insurance exchanges. The grants were mandated by the Affordable Care Act and were given in hopes to strengthen the healthcare marketplace.
According to HHS, health insurance exchanges starting in 2014 will give more flexibility and choice to individuals and small businesses. The exchanges will provide consumers and businesses a platform where they can compare and purchase health-insurance coverage.
“With most states struggling to keep their budgets in balance, these grants will give them the resources to conduct the research and planning needed to build the health insurance marketplace of the future,” HHS Secretary Kathleen Sebelius said. “We are working hand-in-hand with states as we carefully implement the Exchanges to make sure they best meet people’s health insurance needs.”
The first round of grants will give states resources to conduct the research and planning needed for the exchanges.