Health Insurance 'David' Aspires to Stand Up to 'Goliaths'
In a state that's dominated by insurance Goliaths, the Freelancers CO-OP is setting out to prove that it can be a giant-slaying David - or at least a viable alternative.
Health Insurance ‘David’ Aspires to Stand Up to ‘Goliaths’
In a state that’s dominated by insurance Goliaths, the Freelancers CO-OP is setting out to prove that it can be a giant-slaying David – or at least a viable alternative.
It’s not setting out on this mission alone. It’s one of 24 Consumer Operated and Oriented Plans (CO-OPs) established in different states under the 2010 Affordable Care Act, a model that federal officials hope will result in affordable, consumer-friendly healthcare.
The CO-OPs are intended to be nonprofits, governed by consumer-led boards, and providing affordable coverage. Through the ACA, the New Jersey organization hasand to ensure that the company can pay medical claims before it’s built up revenue from premiums.