CHICAGO (AP) — The Illinois Department of Insurance has been awarded a $5.1 million federal grant to develop and maintain a health insurance exchange where consumers can shop for coverage.
The nation's new health care law requires the exchanges to be running in states by 2014
Insurance exchanges will allow people and small businesses to comparison shop online for insurance. The concept has been described as Travelocity for health insurance.
The grant will help Illinois design the information infrastructure. It will go toward hiring staff to plan and coordinate with consultants to create the design features.
Gov. Pat Quinn said in a statement released Tuesday that the grant will help create a strong exchange and develop tools to make it easy for everyone to use.
|More coverage on health exchanges from BenefitsPro
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.