The Obama administration will give up to $1 billion to those who come up with the best ideas for improving care, lowering costs and creating jobs within the health sector.

Funded by the Affordable Care Act, the Health Care Innovation Challenge will award the money to innovative projects that will not only deliver better health care at lower costs, but will also hire and train workers.

The Obama administration is looking for innovative ideas to help people enrolled in Medicare, Medicaid and the Children's Health Insurance Program.

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