On April 27, the Congressional Budget Office (CBO) released an analysis estimating that repealing federal funding for the implementation of state health insurance exchanges would save $14 billion over ten years.  Though the grants will cost approximately $1.9 billion, the federal government would realize additional savings because the absence of federal funding would hinder implementation and operation of the exchanges, leading to fewer beneficiaries receiving subsidized coverage.  The House Energy and Commerce Committee recently passed a bill (H.R. 1213) to defund the implementation.

From the report: 

H.R. 1213 would repeal mandatory funding established by the Patient Protection and Affordable Care Act (PPACA) to provide grants to states to establish health insurance exchanges. CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting the legislation would reduce deficits by almost $13 billion over the 2012-2016 period and by about $14 billion over the 2012-2021 period. Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues. Enacting H.R. 1213 could also lead to changes in spending subject to appropriation. While CBO has not yet completed an estimate of those potential effects on discretionary spending, we expect that the Department of Health and Human Services (HHS) would need additional resources because of increased responsibility for establishing health insurance exchanges. The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA).

Full Report: Cost Estimate: H.R. 1213 A bill to repeal mandatory funding provided to states in the Patient Protection and Affordable Care Act to establish American Health Benefit Exchanges (PDF | 105 KB)

Congressional Budget Office. (2011). H.R. 1213: a bill to repeal mandatory funding provided to states in the Patient Protection and Affordable Care Act to establish American health benefit exchanges.