The ACA COOP program is on life support. Officially termed Consumer Operated and Oriented Plans, better known as COOPs, these member-run health insurance entities were initially instituted under the ACA to offer “competitive alternatives” to the traditional insurance company offerings of products.
Affordable Care Act
Aetna, UnitedHealth, Humana and many other significant players in the health insurance market are pulling out of the Affordable Care Act (ACA) exchanges and many consumers are left seeking new plans.
Consumer Operated and Oriented Plan insurers (“co-ops”) are gradually going out of business. The Affordable Care Act (the “ACA”) in 2011 funded co-ops with $2.4 billion under a federal grant and loan program. Recently it was reported that 12 of … Continued
According to Section 9010 of the Affordable Care Act, entities that issue health insurance must pay an annual fee one year (fee year) based on the amount of premium written in the prior year (data year). For a more extensive explanation of this fee see the post on SSAP 106.