Oregon’s Health Co-op has been granted a license to sell health insurance by the Oregon Insurance Division, according to a press release.
The license — an Insurer’s Certificate of Authority, from the office of the Oregon Insurance Commissioner — is an important step for the new nonprofit, consumer-driven health insurance company, which is on track for open enrollment of Oregonians Oct. 1 for coverage effective Jan. 1, 2014.
Oregon’s Health Co-op was initiated under terms of the Patient Protection and Affordable Care Act, or “Obamacare.”
The Affordable Care Act also provided the framework and financial business loans to launch insurance co-ops, or “Consumer Operated and Oriented Health Plans.”
Oregon’s Health Co-op is one of 24 new co-ops nationwide implemented to promote the consumer’s voice in health care, spark competition and lower costs in the health insurance marketplace, according to the release.