Missouri Receives $21M Grant to Build Online Health Insurance Marketplace

Missouri has received a $21 million grant aimed at making health insurance coverage for individuals and small businesses more accessible and affordable, regulators

Using the grant awarded by the U.S. Department of Health and Human Services, the state Department of Insurance and the Missouri Health Insurance Pool will build an online marketplace for Missouri families and businesses to compare and purchase health insurance specifically tailored to meet their needs. By increasing transparency, comparison and product options, the online marketplace is expected to improve competition and drive down costs.

Under federal law, states can create and operate their own marketplaces; if they do not by 2014, the federal government can intervene and create a marketplace run from Washington.

The concept of a state-run health insurance marketplace has broad, bipartisan support in Missouri. During the 2011 legislative session, the Missouri House of Representatives passed authorizing legislation, sponsored by Rep. Chris Molendorp, R-Belton, 157-0, and a Senate committee passed the bill unanimously. The Missouri Senate is now studying the issue through an interim committee.

The organization receiving the grant funding is the Missouri Health Insurance Pool. MHIP is governed by a nine-member board of directors, appointed by the director of the Department of Insurance.

Source: Missouri Department of Insurance