ST. PAUL, MN - The State of Minnesota has received conditional approval to build a new health insurance exchange to serve Minnesota individuals, families and small employers.
The goal is to set up a one-stop health insurance marketplace where individuals, families and small employers will be able to get quality health coverage at a fair price. Officials hope the exchange will allow more than one million Minnesotans to choose the health insurance they need at a price they can afford, while saving $1 billion every year on health care costs.
The green light to begin setting up the exchange came Thursday in a letter from the U.S. Department of Health and Human Services (HHS).
"I'd like to thank our stakeholders, who have dedicated countless hours of effort to frame the various policy options, for helping us achieve this significant milestone," remarked Commissioner Jim Schowalter. "This designation gives us added affirmation to move forward to the next step of working with legislators to pass a bill early in the 2013 session."
Minnesota submitted an application to HHS in mid-November asking for conditional approval to build a state-based exchange.
Exchange Executive Director April Todd-Malmlov added, "Receiving HHS approval affirms the direction of our planning to date and for the coming months, as we work to implement an exchange that best serves the needs of Minnesotans and capitalizes on the unique and innovative strengths of our health care system."
Enrollment in the Minnesota health insurance exchange is scheduled to begin October 1, 2013. For more information about the new online health insurance marketplace and how it could benefit Minnesota consumers and businesses, log onto the exchange website.
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