RI wins $58 million for health insurance exchange
PROVIDENCE, R.I.—Rhode Island is receiving $58 million in federal funds to assist in the creation of a new online market for health insurance.
The money will help the state establish its health benefit exchange, one of the requirements contained within the federal Affordable Care Act.
Rhode Island is the first state to receive this type of funding, which is intended for states that are farther along in planning their exchanges.
The U.S. Department of Health and Human Services announced the grant Tuesday.
Gov. Lincoln Chafee (CHAY'-fee) says the funding shows the state is making progress toward creating an affordable, accessible health care system.
The insurance exchange is intended to allow consumers and businesses to compare health plans and connect eligible citizens with health insurance subsidies. It's scheduled to be operational by 2014.