Kentucky Receives New Federal Grant to Support Creation of Health Exchange
Sep 28th, 2012
Kentucky has received another in a series of federal grants to support the creation of a health exchange. The $4.4 million federal grant awarded yesterday brings the total federal funds provided to the Commonwealth for establishment of an exchange to more than $69 million since 2010.
Consumers and small businesses will have access to Exchanges starting in 2014 under the Affordable Care Act. The Exchanges are one-stop marketplaces that will provide access to quality, affordable private health insurance choices similar to those offered to members of Congress. Consumers in every state will be able to buy insurance from qualified health plans directly through these marketplaces and may be eligible for tax credits to help pay for their health insurance. These competitive marketplaces promote competition in the insurance marketplace and provide consumers with more insurance choices.
Arkansas, Colorado, Kentucky, Massachusetts, and Minnesota received awards yesterday for Level One Exchange Establishment Grants (one-year grants awarded to states to build Exchanges). The District of Columbia received a Level Two Exchange Establishment Grant, a multi-year grant awarded to states further along in building their Exchanges.
A total of 49 states, the District of Columbia, and four territories have received grants to begin planning their Exchanges, and 34 states and the District of Columbia have received grants to begin building their Exchanges. To ensure states have the support and time they need to build an Exchange, states may apply for grants through the end of 2014 and may use funds through the initial start-up year.
For a detailed breakdown of Exchange grant awards made to states, including summaries of how states plan on using the awards announced today, visit: http://www.healthcare.gov/news/factsheets/2011/05/exchanges05232011a.html.
For more information on Exchanges, visit: http://www.healthcare.gov/exchanges.
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