Beshear: Reviving insurance exchange to reap bigger savings

FRANKFORT, Ky. (AP) — Kentucky’s governor says relaunching the state’s health insurance exchange will result in bigger savings than originally anticipated. Kentuckians now using the federal site to obtain health coverage pay about $9 million to $10 million a year to the government through a surcharge. Gov. Andy Beshear said Monday the federal government has notified Kentucky it’s raising that amount to $15 million. In contrast, Beshear says reviving the state-based exchange will cost about $5 million, and operating it will cost about $2 million a year. Beshear says he hopes those savings will be passed along to people who buy health plans through the exchange.