Co-op manages to find success where similar initiatives have failed
As the open enrollment period for health insurance exchanges ends, there has been an unexpected victory in Nevada. The Nevada Health Co-Op was one of 24 consumer oriented and operated insurance carriers to be launched by the Affordable Care Act. These co-ops are designed to be non-profit organizations that provide consumers with public insurance options. The insurer has only been operating since the fall of 2013, but has managed to account for over a third of the state’s insurance enrollments under the health care reform law.
Co-ops prove to be a popular alternative to exchanges in some states
Co-ops are meant to be an alternative to private insurance providers as well as exchanges. These organizations exist to provide low-cost insurance coverage that is largely defined by consumer interests rather than those of the federal government and insurance corporations. The insurance policies must still comply with both federal and state regulations, of course, but are often considered to be a more consumer-friendly option in the insurance market.
_________________________Random Quotes to Remember ~ “The best investment is in the tools of one’s own trade.” – Benjamin Franklin
Nevada Health Co-Op wins favor with consumers by offering affordable coverage
The Nevada Health Co-Op has managed to find success where other co-ops throughout the country have failed. The primary attractor of the state’s co-op has to do with the price of its insurance policies. The co-op offers the lowest coverage premiums in the Las Vegas area, which has managed to attract it a great deal of support from consumers. The co-ops office is located near a popular shopping mall and has been designed to appeal to foot traffic specifically. For many, the co-op has provided coverage options for those that have been unable to find policies through the state’s insurance exchange due to ongoing technical difficulties.
Co-ops in Maine and New York find similar success
Similar co-ops in New York and Maine have also found significant success. New York’s co-op accounted for 16% of all insurance enrollments at the end of 2013. In Maine, the state’s co-op exists as one of the very few organizations offering insurance coverage outside of the state’s exchange. The Maine co-op accounted for 80% of new enrollments under the Affordable Care Act in 2013 in the state.