Status of the New CO-OPs?

[Monti_Ray]

There were 24 non-profit Co-ops created by the new law. Here is the list (you need to scroll to middle of the page to see the list).
They are also allowed to sell outside the exchanges/marketplaces.

New Loan Program Helps Create Customer-Driven Non-Profit Health Insurers - Centers for Medicare & Medicaid Services

Does anyone have any idea about their status, or the premiums they are charging, or if they are using agents?

Monti
BestInsLeads.Com

 

[timsip]

CoOportunity Health serving Nebraska and Iowa appears to be using a GA type structure.

CoOportunity Health is in the process of finalizing its Preferred Broker Network. We will be working with key insurance agencies and brokers in Iowa and Nebraska.

It will be interesting how they are going to operate or compensate. They were awarded about $112 million and have been building since 2012. How much do you think they have left? How much of their premiums collected do you think they will be paying out each month in medical losses? After going through the various brokers that they have lined up with, it appears that IFP is an afterthought for them. Most of the brokers listed on their website are focused on group benefits.

 

[somarco]

The co-ops will be focusing mostly on larger groups but some are willing to take down to 25 lives or so.

Securing reinsurance and alternate funding sources are a major challenge. Even with federal seed money many will not have enough capital to make it out of the gate or last more than a year.