The Departments of Health and Human Services and Treasury have taken the next steps in establishing Affordable Insurance Exchanges – State-based competitive marketplaces, which launch in 2014, designed to provide individuals and small businesses with access to one-stop marketplaces where they can choose a private health insurance plan that fits their needs and offers the same kind of insurance choices as members of Congress.
This past Friday, HHS awarded $185 million to 13 states and the District of Columbia to help them build the Exchanges and, with Treasury, posted three proposed rules that will provide a simple, streamlined, and affordable path for consumers to use the Exchanges to purchase private health insurance. The proposed rules describe how middle-class families will gain access to unprecedented tax relief that will dramatically reduce the cost of coverage.
The Affordable Care Act, which President Obama signed into law on March 23, 2010, creates the Exchanges. More than half the states have already taken action to begin building an Exchange and the new grant awards will accelerate that progress. The Exchange Establishment grants awarded today build on earlier investments in states. In 2010, HHS awarded 49 states and the District of Columbia $50 million to begin planning their Exchanges. HHS expects to make more grant awards in coming months.
Christine Salimbene, Vice President & General Counsel
Ms. Salimbene joined MTBC in 2009 as General Counsel, Vice President and Company Secretary. She and her team focus on mitigating business risk and ensuring compliance with all legal requirements.