Health exchanges' finances face test in 2nd year
PROVIDENCE, R.I. - The federal government shelled out billions of dollars to get health insurance marketplaces going in the 14 states that opted to run their own. Now they must act like true marketplaces and start paying for themselves.
Under President Barack Obama's Affordable Care Act, state-run health insurance exchanges need to be financially self-sustaining starting in January. Some appear to be on that path, while others have unclear funding models or even none at all.
Rhode Island, for example, received high marks for the smooth rollout of HealthSource RI amid last year's stumbles by the federal government.
But the state doesn't have a way to pay for the exchange's long-term operations, and some lawmakers in the state General Assembly have suggested shifting to the federal exchange.
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