The Baltimore Sun reports that Maryland has received $123 million in federal funding to launch the health insurance exchange, Maryland Health Connection.   The exchange, scheduled to open in October 2013, will provide a marketplace for uninsured individuals to purchase coverage.

“From the moment the president signed the Affordable Care Act into law, Maryland has moved forward aggressively to build our exchange in order to expand access to affordable health care options,” said Lt. Gov. Anthony G. Brown, who has spearheaded the state’s efforts to implement the legislation.

During a news conference at the University of Maryland Medical Center, Brown said the new exchange “will become synonymous with a one-stop, transparent marketplace where individuals and small businesses can compare rates, benefits and quality among private insurance plans to find one that best suits their needs.”

The Sun reports that the $123 million will be used to develop the technology systems needed to run the exchange and various administrative needs including staffing and education.