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KY governor reauthorizes state insurance benefits exchange

More insurers want to sell health insurance benefits on Kentucky’s state exchange during the next open enrollment period, and Gov. Steve Beshear has filed an executive order ensuring the Affordable Care Act remains in effect in the state.

According to Live Insurance News, two insurance companies have said they want to participate in Kentucky’s exchange Kynect next year. Some consider the state marketplace’s first year to be a success, and many are looking to benefit in this success.

However, not everyone is on board with Kynect. According to the Lexington Herald-Leader, there has been push back in the state about the exchange. Gov. Beshear recently reauthorized the exchange for the upcoming enrollment period, and the news source reported he plans on funding the exchange starting Jan. 1, 2015, with a 1 percent fee on insurance companies participating in the exchange. According to the Herald-Leader, these fees will generate $27 million, and will be important when federal funds stop at the beginning of next year. 

Yet most of the opposition to Kynect isn’t regarding how it will be funded, but how it’s being brought about. The news source reported the governor continues to sidestep the state legislature, which has yet to approve the health exchange. 

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Erin Woulfe
Erin Woulfe
Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization or just providing tips and how-to’s to help them make their job easier.”

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