Ninth Co-Op Established Under ACA To Shut Down
Another not-for-profit cooperative health plan established under the Affordable Care Act has announced it will shut down in part because of lower-than-expected federal financial aid through the so-called risk corridors program. Consumers' Choice Health Insurance, a co-op operating in South Carolina, currently covers about 40% of the 168,000 individuals who have purchased coverage through South Carolina's exchange. The co-op's decision to close means that 67,000 individuals and business customers will have to seek new coverage once their current plans expire at the end of the year.
- "Ninth Cooperative Formed Under Affordable Care Act Closing" (Murphy/Smith, AP/Sacramento Bee, 10/22).