Your Health Idaho pays back loan to Department of Health & Welfare
Your Health Idaho has paid back the $385,000 federal loan it received in May from the Department of Health and Welfare to cover startup costs for Idaho’s State-based Health Insurance Marketplace.
The loan was paid back in full on Sept. 25, 2013, just four months after the loan was received.
Your Health Idaho received the loan in May to cover start-up costs for Idaho’s State-based Marketplace during the lag time before Your Health Idaho received its federal grant award to cover the cost of operations.
The loan came from discretionary federal funds Health and Welfare received from a high performance bonus award. The Idaho Medicaid Program is federally mandated to interface with Your Health Idaho, and any delays would have caused missed deadlines and the potential for the state to be penalized millions of dollars.
The loan meant that Your Health Idaho was able to begin work immediately, increasing the possibility for Medicaid to meet its deadlines and ensuring that Idaho’s Health Insurance Marketplace remains under Idaho control and is ready by the federal deadline.
“We are grateful for the Department of Health and Welfare’s loan that helped to temporarily cover costs of our State-based Health Insurance Marketplace,” said Amy Dowd, Your Health Idaho executive director. “Now that we have received our federal grant for Your Health Idaho, we are able to repay the loan to the Department of Health and Welfare.”
Your Health Idaho received a $20.3 million Level One federal grant award from the U.S Department of Health and Human Services on July 30, 2013. On Aug. 13, 2013 the Your Health Idaho Board voted to approve to proceed with a second Level One grant submission to the U.S. Department of Health and Human Service in the amount of $51 million.
Together these grants will cover the cost of stakeholder involvement (consumer assistance and outreach and education), program integration, an IT system, and oversight and program integrity and business operations.
As promised by the enabling legislation passed in March of 2013, no state funds are being used to finance Your Health Idaho.