HARTFORD, Conn. -- Connecticut is one of the first states to receive approval from the U.S. Department of Health and Human Services of its plan to set up a new health insurance exchange.

A total of six states won approval Monday for plans developed under President Barack Obama's health care overhaul law.

The exchange is expected to be set up by next year for individuals and businesses to find affordable coverage.

Lt. Gov. Nancy Wyman says the approval shows Connecticut has made important progress while most states are still grappling with how to move forward with health reform.

The state has received $116 million in federal money to design and create the exchange.

In Connecticut, about 377,000 of the state's 3.5 million residents are uninsured, or nearly 11 percent.