Who We Are
Member Powered. Shared Success. Collaborative Model.
CoOportunity Health was approved for $112.6 million in federal low-interest loan funding on February 21, 2012, from the U.S. Department of Health and Human Services (HHS) to establish a Consumer Operated and Oriented Plan (CO-OP) in Iowa and Nebraska.
CO-OPs were established by the Affordable Care Act (Section 1322) to foster the creation of new consumer-governed, nonprofit health plans. To encourage the establishment of a CO-OP in each state, the program provides $3.4 billion in funding to capitalize approved CO-OPs through start-up and solvency loans to qualifying nonprofit organizations. The formation of CO-OPs will help drive cost savings, enhance competition in the newly-created state-based competitive health insurance marketplace (Affordable Insurance Exchanges), and provide choice in markets traditionally dominated by one or only a few insurance companies.
Similar to existing cooperatives for agriculture, utilities, and credit unions, CoOportunity Health will be managed by and for its members with any profits used to increase either benefits, lower premiums, and pay back the government loans. Read our corporate fact sheet.
CoOportunity Health in one of only a few state-based CO-OPs that were approved for the federal loan program. All CO-OPS will provide marketplace alternatives for consumers that:
• Provide a viable alternative to dominant carriers in concentrated markets
• Take advantage of the funding opportunities embedded in the ACA
• Re-create true nonprofit health insurance alternatives
• Form a vehicle for collaboration with providers, agents/brokers and, above all, consumers
• Puts consumers back into the healthcare equation
CoOportunity Health is currently in its start-up phase. We recently received a Certificate of Authority to provide health insurance (a license) from the Iowa Insurance Division on March 22, 2013, and expect to receive our license from the Nebraska Department of Insurance very soon. We also are working to establish the necessary infrastructure and capabilities for marketplace readiness in 2013. We plan to begin enrollment in October 2013 in preparation for insurance coverage with effective dates of January 1, 2014. CoOportunity Health will participate in any Affordable Insurance Exchanges established in Iowa, Nebraska or federally. The CO-OP will also offer a portfolio of health insurance solutions outside of the Exchanges to individuals, small businesses and other employers.