HHS has launched the State Innovation Models Initiative, a $275 million competitive funding opportunity for up to 30 states to design and test multi-payer payment and delivery models designed to generate savings and improve care for Medicare, Medicaid, and Children’s Health Insurance Program (CHIP) beneficiaries.  States can apply for either Model Testing awards, intended to assist in implementing developed models (up to 5 states), or Model Design awards providing funding and technical assistance as states assess system improvement options (25 states).