A Few Clouds
66FA Few CloudsFull Forecast

Nonprofit plans to offer health insurance as co-op

CHICAGO (AP) — A new nonprofit organization called Land of Lincoln Health is taking steps to offer health insurance coverage in Illinois in 2014 when President Barack Obama's health overhaul law goes into full effect.

The Metropolitan Chicago Healthcare Council announced Friday that an application it submitted has received approval for a $160 million federal low-interest loan. The loan will be used to develop Land of Lincoln Health as a so-called Consumer Operated and Oriented Plan, or "co-op."

The Affordable Care Act created co-ops as a new type of private nonprofit health insurer. The co-ops will be directed by customers.

Land of Lincoln Health is now applying for a state license to offer health insurance to individuals and small businesses in Illinois.

___

Online:

http://www.landoflincolnhealth.org/

Comments

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Reader Poll

Would you quit your job if you won $1 million?
Yes
No
I'd work part time