Eight states have received new grants to help support the establishment of Affordable Insurance Exchanges. Starting in 2014, health care exchanges in California, Connecticut, Hawaii, Iowa, Maryland, Nevada, New York, and Vermont should be up and running.
In every state, Exchanges will allow consumers to shop for and enroll in private health plans that meet their needs. Consumers will be able to learn if they are eligible for tax credits and cost-sharing reductions, or other health care programs like the Children’s Health Insurance Program. Small employers will be eligible to receive tax credits for coverage purchased for employees through the Exchange.
California, Hawaii, Iowa, and New York today have been awarded Level One Exchange Establishment grants, which provide one year of funding to states that have begun the process of building their Exchange. Connecticut, Maryland, Nevada, and Vermont were awarded Level Two Establishment grants, which are provided to states that are further along in building their Exchange and offers funding over multiple years.
Previously, 49 states, the District of Columbia and four territories received grants to begin planning their Exchanges. Now, 34 states and the District of Columbia have also received Establishment grants to begin building their Exchanges.