More than 400,000 people have enrolled in health insurance exchange plans sold by health insurance CO-OPs, according to a news release from the National Alliance of State Health CO-OPs.
Consumer Operated and Oriented Plans, or CO-OPs, are nonprofit, consumer-governed health insurers created under the Patient Protection and Affordable Care Act. There are 23 CO-OPs nationwide, and they have received almost $2 billion in federal loans to get their projects off the ground.
In addition to driving PPACA exchange enrollment, the CO-OPs have driven down premiums, according to NASHCO. A study of premium rates found states with a CO-OP had rates 9 percent lower on average than those without CO-OPs, according to the release. Additionally, another report found CO-OPs offered 37 percent of the lowest-priced plans in their states.
Overall PPACA exchange enrollment reached 8 million last week. That number could still increase, as 2014 enrollment is still open for some state-based exchanges.
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