Mark Udall congratulated the Colorado Health Insurance Cooperative, Inc. (CHI) on receiving a $69,396,000 loan to set up an innovative and consumer-driven health insurance option for Coloradans. The loan, made available as a result of the Affordable Care Act, is one of 17 from the Centers for Medicare & Medicaid Services to launch new non-profit, consumer-governed health insurance companies called Consumer Operated and Oriented Plans (CO-OPs) around the country.
"This new health insurance cooperative will provide Coloradans with an important option designed to increase independence and empower individuals when it comes to making decisions about their own health care," Udall said. "I congratulate the organization for getting the opportunity to enhance access to health care, especially for rural Coloradans, and improving the health of Colorado communities across the state."
Udall wrote a letter in March this year in support of the organization's application for the funding.
CO-OPs were created by the Affordable Care Act to increase competition in the individual and small-business markets for health insurance. For more information on the CO-OP program and recent awardees, please visit: http://www.healthcare.gov/news/factsheets/2012/02/coops02212012a.html.