HARRISBURG — Pennsylvania is moving to take over the online health insurance exchange that’s been operated by the federal government since 2014, saying it can cut health insurance costs for the hundreds of thousands who buy the individual Affordable Care Act policies.

New legislation unveiled Tuesday has high-level support in the state House of Representatives, with the chamber’s Republican and Democratic floor leaders as the bill’s lead co-sponsors.

A House committee vote was scheduled for Wednesday.

Gov. Tom Wolf’s administration says the state can operate the exchange for less money than the federal government. Currently, the federal government takes 3.5% of the premium paid on plans sold through the exchange, or an estimated $94 million this year.

The state can operate the exchange for $30 million to $35 million, and use the difference to draw down extra federal dollars for a reinsurance program that reimburses insurers for certain high-cost claims, Wolf’s administration says.