In September 2023, the Centers for Medicare and Medicaid Services (CMS) announced a new opportunity for states to leverage federal funding on health care: the Advancing All-Payer Health Equity Approaches and Development (AHEAD) model. With this model, CMS – under the auspices of the CMS Innovation Center, also known as CMMI — aims to reduce the rate of growth in health care spending, improve people’s health, and reduce disparities in health outcomes. This issue brief answers some key questions about the new model and explores considerations for potential state and private participants.