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Physician Driven Nonprofit Receives Funds To Create Health Insurance Option

by CTNewsjunkie Staff | Jun 8, 2012 11:47am
(5) Comments | Commenting has expired
Posted to: Health Care, Nonprofits

The federal government approved plans for a new nonprofit organization to receive $75.8 million in federal funding to establish a nonprofit health insurance company under the Patient Protection and Affordable Care Act.

HealthyCT, the group created by two physicians associations, the Connecticut State Medical Society and CSMS-IPA, announced Friday that it will receive federal low-interest loans to create a Consumer Operated and Oriented Plan (CO-OP), which will serve individual and small group markets. It was one of 14 groups to receive funding.

“The physicians and consumers who believe that there is a better way to provide health insurance coverage to Connecticut patients are thrilled that we have cleared this major hurdle,” HealthyCT Board President David S. Katz, MD said in a press release. “This affirms our conviction that taking on this challenge is the right thing to do for the citizens of Connecticut.”

As a non-profit health insurer, any surplus funds HealthyCT derives would go back into the plan to help keep premiums stable and improve the quality of care, the press release states.

In its more than 400 page application the group noted that last year both individual and small group policies were concentrated under a small number of providers. Anthem, UnitedHealth, Aetna, ConnectiCare and Assurant carried 95 percent of individual policies. Meanwhile UnitedHealth, Anthem, ConnectiCare, Aetna and Cigna made up 99 percent of the small group market, it said.

Katz has previously said that consumers are clamoring for more choices.

The next hurdle for the group will be obtaining a license to offer health insurance from the Connecticut Insurance Department. Contingent on state approval, HealthyCT is expected to begin issuing insurance in October 2013.

HealthyCT can be found online at www.HealthyCT.org and on Facebook.

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(5) Comments

posted by: jenand | June 8, 2012  12:06pm

This is wonderful news - if it all works out,people will be able to make choices based on what is best for their own future, not which employer offers insurance they can afford. Insurance has determned personal career choice and where one lives and works for far too long. This will enhance our freedom—Finally.

posted by: saramerica | June 8, 2012  12:53pm

saramerica

As a self-employed person buying insurance as a group of 1, and paying more every year for less coverage, this is FANTASTIC news. Let’s just hope the Supreme Court doesn’t decide to throw a spanner in the works.

posted by: lkulmann | June 9, 2012  10:02am

This makes perfect sense to me. Hopefully this will take the place of the lame substandard plans that the State has in place. Please tell me there will be a manual with each plan. CT State determines who gets what service on a case by case basis. Depending on who answers the phone and what mood they’re in over at DSS decides what they’ll cover that day…CT medical professionals need to be involved in all aspects of medical decisions made in CT. Not some bogus pay as you go opinion.

posted by: NOW What? | June 10, 2012  12:44pm

I agree, this is a wonderful concept. It reminds me of “way back when” when a group of doctors and the Conn. Medical Society created M.D. HealthPlan, which was a GREAT private for-profit Connecticut health insurance plan… until it was sold to what is now known as HealthNet. If these guys get it off the ground and can manage to keep it going as a non-profit, hopefully it will never suffer the fate that M.D. HealthPlan did.

posted by: lkulmann | June 12, 2012  11:13am

This plan, unlike healthcare plans offered by CT DSS, will be regulated by the CT Insurance Department. At least there will be some form of protection for clients if needed. If there is an issue with medical insurance purchased through CT DSS your lucky to ever speak to someone let alone get consistent anwers to your questions. I just hope this plan will eventually replace MEDICAID recipients quality of care and healthcare options.