HHS will make loans totaling $161 million available to new non-profit insurance carriers.
The Hill: HHS Awards New Grants For Health Care Co-Ops
The Health and Human Services Department announced more than $160 million in loans Friday to help establish new insurance plans under President Obama's health care law. The new loans went to two organizations -- one in Massachusetts and one in Tennessee -- to establish new, non-profit insurance carriers. The new products, known as co-ops, must reinvest their profits toward providing better care or lowering premiums, and would have to follow the same rules as traditional insurers (Baker, 8/31).
Modern Healthcare: Co-Op Insurers Get $161 Million In Start-Up Loans From CMS
The CMS awarded a combined $161 million in startup loans Friday to two of the newest not-for-profit insurers authorized by the 2010 health care law. The latest awards to insurers that qualify as Consumer Operated and Oriented Plans bring the total the CMS has provided to the 20 such plans in 20 states to more than $1.5 billion since February (Daly, 8/31).
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