Number of the Day: $703 million

September 21, 2012 | Number of The Day

New Jersey institutions have already received $703 million in federal funding from the Affordable Care Act, according to an ACA Federal Funds Tracker, developed by the Henry J. Kaiser Family Foundation. That is is 4.4 percent of the national total.

The bulk of the money — $538 million — has gone to the private market; only $164 million has been granted to the state and local governments. Of this, $430 million has been granted to employers to assist in the cost of providing health coverage or to provide for new technologies and treatments.

Since this is far higher than what’s been given other states (the state median is $46 million), it might be assumed that most of this money has been given to the health and pharmaceutical industries. The next biggest chunk — $147 million — has gone toward the development of a private insurance exchange. Only $15 million of that money has been granted to the government, with the other recipients being private health insurers.