Governor Andrew Cuomo says creating a health insurance exchange for New York is a priority for 2012.
State-run exchanges are mandated by President Barack Obama’s federal health care overhaul. Exchanges would effectively make states play the role of insurance broker to help people and small businesses buy coverage from private companies.
Last year, Albany almost passed a bill that would lay the groundwork for an exchange, before hitting an impasse in the Republican-controlled State Senate. Now, New York runs the risk of having the Federal government impose a system on them--something State Senate Republicans say could cost the state up to $3.75 billion.