Ill. Gets $1M For Insurance Exchange

WASHINGTON (AP) - Illinois has been awarded a $1 million planning grant for the development of a health insurance exchange where consumers can shop for coverage.

The U.S. Department of Health and Human Services awarded the grants to Illinois and other states Thursday.

The insurance exchanges are part of the nation's new health law, the Affordable Care Act. The law requires most people to have health insurance starting in 2014.

The exchanges are intended to give individuals and small businesses more control and choice as they shop for insurance.

In Illinois, the Department of Insurance will administer the grant. The money will help the state with strategic planning on the operational and technical requirements of building an insurance exchange.