Two health care nonprofit co-ops receive health law loans

May 21 2012

These two co-ops, located in Nevada and Michigan, received a total of $135 million in loans from the Centers for Medicare & Medicaid Services.  

CQ HealthBeat: More Than $135 Million In Loans Made To Health Co-ops In Nev., Mich.
Health and Human Services officials announced Friday that they have awarded loans to two more health care nonprofit co-ops, one in Nevada and one in Michigan. The Hospitality Health Co-op in Nevada was awarded $65.9 million and is sponsored by the Culinary Health Fund, the United HERE labor union and the Health Services Coalition, according to an announcement from the Centers for Medicare and Medicaid Services (Norman, 5/18).

Modern Healthcare: Add Michigan, Nevada To CO-OP List
Michigan and Nevada on Friday became the latest states to receive Consumer Operated and Oriented Plan, or CO-OP, loans from the CMS, bringing the award total to more than $982 million for these not-for-profit insurers created by the Patient Protection and Affordable Care Act. Directed by customers, CO-OPS are supposed to offer both small businesses and individuals more-affordable health insurance options and will be offered through the health insurance exchanges or in plans outside the exchanges starting on Jan. 1, 2014 (Zigmond, 5/18).