Missouri has received a $21 million grant aimed at making health insurance coverage for individuals and small businesses more accessible and affordable.
The state Department of Insurance will use the grant money to build a health insurance exchange for Missouri families and businesses to compare and purchase health insurance specifically tailored to meet their needs. According to the Department of Insurance news release, by increasing transparency, comparison and product options, the online marketplace will improve competition and drive down costs.
Under federal law, states can create and operate their own marketplaces. If they do not by 2014, the federal government can intervene and create a federally-run marketplace.
The concept of a state-run health insurance marketplace has broad, bipartisan support in Missouri. During the 2011 legislative session, the Missouri House of Representatives passed authorizing legislation, sponsored by Rep. Chris Molendorp, R-Belton, 157-0, and a Senate committee passed the bill unanimously. The Missouri Senate is now studying the issue through an interim committee.