The 23 consumer operated and oriented plans created under the Affordable Care Act did not meet their initial program enrollment and profitability projects as of Dec. 31, 2014, according to a new Office of Inspector General report.
The Louisiana Department of Insurance announced that the state's consumer operated and oriented health plan, Louisiana Health Cooperative, will discontinue selling coverage at the end of 2015. Currently, 17,000 residents receive coverage from the CO-OP.
Another consumer oriented and operated health plan (CO-OP) has ceased accepting new enrollments for the year. Tennessee's Community Health Alliance (CHA) pulled its plans off the state's federally run exchange by freezing enrolling on Jan. 15.
In a very consumer-oriented health insurance industry, innovation is what sets apart insurers--and states. Case in point: Consumer operated and oriented plans. These nonprofit organizations have had their fair share of ups and downs.
Healthcare reformcreated consumer-oriented and operated health plans (CO-OPs) to provide alternatives to traditional insurance, but serving that purpose is getting harder given problems with HealthCare.gov and the proposed reinstatement of canceled plans, according to Reuters.
Vanguard Health System, Tufts Medical Center and its New England Quality Care Alliance physicians' group have formed a consumer operated and oriented plan (CO-OP) health plan with an $88.5 million loan from the Centers for Medicare & Medicaid Services.
Health insurers won't likely be seeing much competition from a potentially new source of health insurance--consumer-oriented and-operated plans (CO-OP).