CMS Awards 3 Additional CO-OP Loans

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CMS announced it has awarded low-interest solvency loans to three new Consumer Oriented and Operated Plans.

CMS awarded $87.6 million to South Carolina-based Consumers' Choice Health Insurance Company, $62.1 million to Maine Community Health Options and $56.7 million to Oregon's Health CO-OP. CMS has now awarded loans to 10 different CO-OPs.

The Patient Protection and Affordable Care Act allocates roughly $3.8 billion to the CO-OP program, which allows eligible non-profit organizations to become health insurers and sell health coverage through health insurance exchanges.

More Articles on CO-OPs:

CMS Awards Loans to 7 CO-OPs

IRS Issues Temporary Rule on CO-OP Tax-Exempt Status

HHS Issues Final Rule for CO-OP Program

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