Funding now available to assist Nevada set up state health insurance exchange
January 20, 2011
Washington, D.C. – Nevada Senator Harry Reid today announced the availability of additional grant funding from the Department of Health and Human Services that could help Nevada implement one of the cornerstone’s of the new health insurance reform legislation: the state-based health insurance Exchange. The Exchange is essentially a health insurance marketplace that offers an array of health insurance choices for individuals, families and businesses – similar to what all federal employees, including members of Congress, currently have available to them.
The state must apply for grant funding to be eligible.
“This grant funding is an important step toward ensuring that all Nevadans have the same health insurance options their members of Congress have,” said Reid. “Not only will Nevadans have more choices in their health insurance decisions, the increased competition will continue driving down costs for families and improving care. I hope that Nevada will move swiftly to apply for this funding.”
Last year Nevada applied for and received $1 million as a part of the first round of health insurance exchange funding. The state insurance commissioner has applied for and received $1 million for his work reviewing the rates that health insurance companies charge. States can use Health Insurance Exchange establishment grants for a number of different activities including conducting background research, consulting with stakeholders, making legislative and regulatory changes, governing the exchange, establishing information technology systems, conducting financial management and performing oversight and ensuring program integrity.