Waivers can provide an opportunity for states to advance program objectives that are not otherwise permissible under federal law. Section 1332 of the Patient Protection and Affordable Care Act (P.L. 111-148, as amended) is a new waiver authority that will allow states, beginning in 2017, to make changes to health insurance exchanges, qualified health plans, premium tax credits and cost-sharing subsidies, as well as the individual and employer mandates. This presentation compares Section 1332 waivers with Section 1115 waivers, which are being used by many states to implement a wide variety of changes to eligibility, benefits, and delivery systems under Medicaid and CHIP.