U.S. Senator Jeff Bingaman announced yesterday that New Mexico has been awarded $34.2 million to help develop a health care marketplace, known as a health care “exchange.” The exchange is one of the key provisions of the health insurance reform law, which in 2014 will expand health care access to millions of Americans who currently do not have health insurance.
The Affordable Insurance Exchange grant comes from the U.S. Department of Health and Human Services, and was awarded to the New Mexico Human Services Department.
“Our state’s health care exchange will be a central location where New Mexicans can shop for the most affordable health insurance, and to find out whether they qualify for tax credits to help them pay for it,” Bingaman said. “It is one of the most important aspects of the new health insurance reform law.”
Among other things, the grant will be used to implement a multi-year Exchange business and operational plan, including the activities, timelines, and benchmarks and the IT infrastructure and functionality necessary to fully operate in 2014.
Bingaman helped write the health insurance reform law. As a state with one of the highest rates of uninsured residents, no state stands to benefit more than New Mexico.