SEATTLE (AP) -- Next year, Washington's health insurance marketplace will have to be run on less than a third of the money officials now have at their disposal.
Washington and the 13 other states running their own health insurance marketplaces all had federal grants to pay for start-up costs. Now the Washington Health Benefit Exchange will have to transition from federal grants totaling almost $150 million in 2014 to state dollars allocated by the Legislature of $40 million in 2015.
That projected budget cut isn't the only financial challenge for the exchange going forward. Where the money is expected to come from may also pose a problem.
The Legislature voted last year to pass along the proceeds of a state tax on health insurance policy sales through the exchange. That would add up to $40 million, but only if sales projections are met.