Chicago Hospital Trade Association Bids for CO-OP Loan

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The Metropolitan Chicago Healthcare Council has bid on several million dollars in federal loan grants to launch a Consumer Operated and Oriented Plan, according to a Crain's Chicago Business report.

MCHC, which represents more than 150 hospitals and healthcare organizations in the eight-county Chicago area, is trying to form the Land of Lincoln Health CO-OP and is one of five applicants trying to grab the CMS-sponsored loan money for Illinois.

So far, 14 non-profit organizations have received low-interest loans to start a CO-OP. CMS plans to allocate roughly $3.8 billion to the CO-OP program.

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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