CO-OPs loans, which were created to support the start-up of new, innovative health insurers, must be repaid with interest and will only be allocated to non-profit entities that show they could be financially stable. Start-up loans must be repaid in five years, while solvency loans must be paid in 15 years.
The seven CO-OPs receiving loans are:
• Freelancers CO-OP of Oregon
• New Mexico Health Connections
• Montana Health Cooperative
• Midwest Members Health
• Common Ground Healthcare Cooperative
• Freelancers CO-OP of New Jersey
• Freelancers Health Service Corporation
Those CO-OPs will operate in Oregon, New Mexico, Montana, Iowa, Nebraska, Wisconsin, New Jersey and New York starting in 2014. CMS will continue to award loans on a rolling basis.
Related Articles on CO-OPs:
IRS Issues Temporary Rule on CO-OP Tax-Exempt Status
HHS Issues Final Rule for CO-OP Program
CMS Accepting Loan Applications for CO-OP Insurance Plans
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
