The groups have received a loan of $88.5 million from CMS to start the CO-OP, which will be called the Minuteman Health Initiative. It will serve as a consumer-governed, non-profit health plan for all Massachusetts residents.
CMS has now offered low-interest loans to 20 non-profit groups through the CO-OP program, which is part of the Patient Protection and Affordable Care Act. The 20 CO-OPs thus far are in 20 different states, and CMS has allocated more than $1.56 billion of its $3.8 billion in CO-OP loans.
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