News today that a proposed consumer operated and oriented plan (CO-OP) in Connecticut has been approved by the federal government and will receive a $75.8 million federal loan is a big win for the people of the state. The CO-OP, known as HealthyCT and sponsored by Connecticut State Medical Society and CSMS-IPA, a statewide independent practice association, expects to be a new entrant into Connecticut’s insurance market offered inside and outside the state’s new Health Insurance Exchange in 2014.
At last, Connecticut will have a nonprofit, locally based insurance option to offer individuals, families and small businesses. Universal Health Care Foundation of Connecticut is among the organizations that supported HealthyCT’s CO-OP application. The Foundation took an in-depth look at the need for more locally-based, nonprofit insurers in the Connecticut market in the May 31st blog post on The Square.
For updates, visit HealthyCT on Facebook.