The state’s health insurance exchange, Access Health CT, is preparing to announce new business ventures that will allow it to raise new revenue as federal funding for the online marketplace begins to dry up, CEO Jim Wadleigh said last week.
“We are very close to announcing some partnerships,” Wadleigh said during Access Health’s board of directors meeting.
Deals could entail Access Health providing consulting services to other state exchanges.
While Wadleigh wouldn’t reveal which states his team has been speaking to, media reports have said Vermont is among them. Wadleigh said Access Health has not spoken with New York.
The exchange brought in $200,000 for providing training and operational support to Maryland’s exchange.
Access Health is pursuing new revenue streams to safeguard its long-term financial health.
As of Jan. 1, the federal government essentially shut off its money spigot to state-based exchanges, meaning they have to become self-sustainable. Access Health CT received about $150 million in federal funding since its inception, and still has about $20 million left to spend. After that, however, the exchange is on its own.
