“Cooperatives are a key part of the Patrick-Murray Administration’s efforts to lower health care costs for small businesses and working families,” Insurance Commissioner Joseph Murphy said in the report. “Small businesses will be gathered under one umbrella, and the approved cooperatives will obtain combined market power that can lead to lower rates for cooperative members.”
Up to six certified group purchasing cooperatives can absorb 85,000 small group beneficiaries. Cooperatives will ask health insurers to develop products designed by the cooperatives, and it is expected that approved cooperatives may be able to offer health plans by this spring or summer.
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