New Jersey opts out of health exchange partnership

Last week, New Jersey Governor Chris Christie announced the federal government will be completely responsible for the operation of the state's health insurance exchange.

Friday was the deadline for states to decide whether they would collaborate with Washington to create and run an online marketplace where residents will be able to shop for and purchase healthcare coverage. New Jersey and Florida are among the handful of states that opted for the federal government to run their exchanges.

"My administration is committed to meeting our obligation to comply with the Affordable Care Act (ACA), but only in a manner that is the most effective and efficient for the residents of New Jersey, and the businesses that will carry the costs of this new program," Christie said, according to The Star-Ledger.

The newspaper notes the governor's decision is not surprising, as he previously vetoed health exchange legislation twice. In December, Christie was one of several governors who argued the U.S. Department of Health and Human Services had failed to answer important questions surrounding the exchange.

On Friday, the governor stated the cost of a collaborative exchange was too high to implement it.