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On June 8, 2012, HealthyCT, Inc., a Connecticut not-for-profit
provider organization sponsored by the Connecticut State Medical
Society and the Connecticut State Medical Society-IPA was named,
and awarded $75.8 million as a CO-OP loan recipient under Section
1322 of the Patient Protection and Affordable Care Act (PPACA).
Sophisticated provider organizations, like HealthyCT, have shown
significant interest in CO-OP formation. These entities are
considered strong applicants as they are, according to the
Department of Health and Human Services (HHS), "likely to be
viable [as CO-OPs] because of their private support, healthcare
experience, and business expertise."
The Consumer Operated and Oriented Plan (CO-OP) Program under
Section 1322 of the Patient Protection and Affordable Care Act is
designed to foster the creation of new consumer-governed, private,
nonprofit health insurance issuers, known as CO-OPs, that will
offer health plans under the Affordable Insurance Exchanges. HHS
hopes that the CO-OP Program will improve the quality and cost of
integrated care by creating "a new competitive presence"
in the insurance marketplace.
The Final Rule, which was released on Dec. 8, 2011, reflected
HHS's effort to further these goals and to ensure the
flexibility for and improve the potential viability of the CO-OP
Program by making it easier for larger employers to participate,
recognizing provider sponsorship in governing the formation and
transition boards, and ensuring CO-OPs will be operated by
participants who are truly "new" to the market.
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