FRANKFORT, Ky (WEHT) Gov. Andy Beshear announced he plans to bring back the state health insurance exchange program, KYNECT. The program was enacted by his father and former governor, Steve Beshear. Gov. Andy’s Beshear’s predecessor, Gov. Matt Bevin, eliminated the program.
The KYNECT Health Exchange was first launched in Oct. 2013 by Gov. Steve Beshear, and was dismantled in Nov. 2016 by Gov. Matt Bevin when he moved the state to the federal healthcare exchange.
Beshear says Kentuckians paid $9.8M in user fees on the federal health exchange. He estimates Kentuckians will save $2.8M to $3.8M the first year back on KYNECT, and $7.8M to $8.8M thereafter. The one-time state-based exchange cost is $5M for the system, and $1M-$2M for ongoing operations.
(This story was originally published on June 17, 2020)
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