Kentucky Gov. Matt Bevin claims that dismantling the state’s health insurance exchange, Kynect, is going to cost much less than some have estimated.
Bevin’s office released a statement Wednesday saying the net cost to the state of transitioning to the federal exchange will be around $236,000. The governor’s office says the federal share will be $3.7 million.
Some estimates had put the cost to dismantle Kynect at around $23 million.
No general fund dollars will be used toward the transition, according to the governor’s office.
Kentucky Center for Economic Policy executive director Jason Bailey says there are still many questions surrounding the economic impact that dismantling Kynect will have. Bailey says the governor's office has all the information related to the associated costs at this time.
Meanwhile, a new website launched earlier this week that will effectively end up replacing Kynect. Benefind includes applications for Medicaid, as well as other programs.
