Insurance Technology Featured Article

HHS Receives $1.5 billion to Encourage States to Build Health Insurance Marketplaces

January 22, 2013

California, Delaware, Iowa, Kentucky, Massachusetts, Michigan, Minnesota, New York, North Carolina, Oregon and Vermont have been recently granted with $1.5 billion by Health and Human Services (HHS) Secretary Kathleen Sebelius, to purchase any resources that are needed to build a sufficient healthcare marketplace for their residents.

The Affordable Care Act gives consumers and small businesses access to insurance marketplaces, a one-stop shops that will provide access to quality and affordable private health insurance choices similar to those offered to members of Congress by next year starting.

This law recommends that consumers get insurance from qualified health plans that are run directly through marketplaces, where they may be eligible for tax credits to help pay for their health insurance. These marketplaces promote competition among insurance providers and offer consumers more choices.

“These states are working to implement the health care law and we continue to support them as they build new affordable insurance marketplaces,” Secretary Sebelius said. “Starting in 2014, Americans in all states will have access to quality, affordable health insurance and these grants are helping to make that a reality.”

Forty-nine States and the District of Columbia received up to $1 million in grants to help plan for their marketplaces. States may again go for grants through the end of 2014 to build marketplaces on time and use funds through their start-up year.

The Exchange Establishment grants recognize that States are making progress toward establishing grants, but are doing so at different paces. States can choose when to apply for grant funding based on their needs and planned expenditures.

States that are moving at a faster pace can apply for multi-year funding, known as level two establishment grants. States that are making progress in establishing grants through a step-by-step approach can apply for funding for each project year, known as level one establishment grants.




Edited by Ashley Caputo

Article comments powered by Disqus

Related Insurance Technology Articles

Optimal Blue partners with Arch Mortgage Insurance Company

According to the terms of the agreement, Optimal Blue will now provide Arch MI's competitive pricing and Rate Quote workflow within its eligibility and pricing services. Arch MI customers using Optimal Blue's services can now request for Arch MI's mortgage insurance premium rates for up to five loan products. [ Read More ]
08/29/2014

State Farm Makes Auto Claims Submission with Mobile Devices Easier

Unfortunately, we are all too familiar with the phrase, "accidents will happen!" Whether it is a fender-bender or a serious collision we have all been there and done that when it comes to capturing all of the information we need to submit a claim that insurance companies can easily and quickly process. To use another popular phrase, "It is a real pain in the neck." [ Read More ]
08/28/2014

Insurance Industry Increases Hiring for Technology Jobs

Insurance companies have lots of job opportunities for those with thecnology skills. [ Read More ]
08/28/2014

American National Insurance Company Selects iPipeline Solution

iPipeline, a company that offers on-demand marketing, selling, and processing solutions, recently announced that its AFFIRM for Annuities solution has been selected by American National Insurance Company, a provider of life and annuities products, to automate the advisor selling process. By supporting the customized workflows and streamlining the order-entry process, the solution allows financial institutions to meet their requirements for FINRA, SEC and state compliance. [ Read More ]
08/26/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!