California’s Efforts to Implement an Affordable Insurance Exchange are Paying Off
|August 24, 2012||Posted by Veronika Kiselev under Blog||
Yesterday, Health and Human Services (HHS), Secretary Kathleen Sebelius announced that California, Connecticut, Hawaii, Iowa, Maryland, Nevada, New York and Vermont have received new grants to help support the establishment of Affordable Insurance Exchanges. See press release.
Under the Affordable Care Act, the Exchange is responsible to increase the number of insured Californians, improve health care quality, and lower costs. California’s Exchange is a purchasing pool to negotiate favorable premiums and coverage for individuals, the self-employed and small businesses. The Exchange will distribute refundable tax credits for moderate and middle-income families to secure more affordable coverage.
California’s new grant for $196 million provides one year of funding to continue the state’s process of building its Exchange. This is California’s second Level One Establishment Grant.
For more information on the California Health Benefits Exchange please visit: http://www.healthexchange.ca.gov/Pages/Default.aspx