Posted: Dec 26, 2012 4:17 PM by Marnee Banks - MTN News
HELENA - The Montana Health Cooperative (MHC) is now authorized to sell health insurance in Montana.
The Commissioner of Securities and Insurance just issued MHC a certificate of authority. However, the co-op still needs to get approval to sell specific health insurance plans.
The co-op is funded through a federal loan program under the Affordable Care Act. In total, the U.S. Department of Health & Human Services awarded MHC $58 million to start up.
MHC is one of 24 cooperatives funded through the Affordable Care Act.
The company aims to add competition to the market and lower the cost of healthcare through preventative and wellness programs.
Chief External Affairs Officer Rick Yearry says the Montana Health Cooperative is a consumer focused, non-profit organization.
"Our primary focus is to help the low income and the uninsured as well as small groups receive affordable health care," Yearry says.
Yearry says pending further approval from the Commissioner of Securities and Insurance, MHC will begin offering health insurance plans in October next year. Coverage for individuals and small groups will begin in January 2014.
The policies will be offered on the health insurance exchange.