LEWISTON — Community Health Options, the state’s only health insurance co-op, has filed suit against the federal government, claiming it owes the co-op nearly $23 million in promised payments. The co-op says the U.S. Department of Health and Human Services owes it money under the “risk corridor” program, which was established with the Affordable Care […]
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Posted inLewiston-Auburn
Lewiston’s Community Health Options faring better than expected
LEWISTON — Months after Community Health Options stopped selling new individual health insurance plans because it was losing too much money, the state’s only health insurance co-op says its financial situation is now a little better than leaders had expected. In its first 2016 quarterly statement to the Maine Bureau of Insurance, the Lewiston nonprofit […]
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Maine Community Health Options is country’s only profitable co-op
LEWISTON — Maine Community Health Options is the only profitable health insurance co-op in the country, according to rating agency A.M. Best. In a briefing released last month, Best said only one of the country’s 23 co-ops — MCHO — had both favorable underwriting and income as of last fall. While MCHO reported $10.9 million […]
Posted inBusiness, sj-web
Lewiston-based health insurer finds success with ACA
AUGUSTA — Consumers signing up for health insurance on the marketplaces created under President Barack Obama’s landmark health care law have consistently turned to big-name insurers over smaller nonprofits and startups. But Maine has gone the other way, with a vast majority of residents putting their trust in the new co-op Maine Community Health Options […]
Posted inBusiness, Lewiston-Auburn
New health insurance co-op in Lewiston readies for business
LEWISTON — In a traditional insurance company, clients buy insurance. At Maine Community Health Options, they also run the place. MCHO, based in Lewiston, is the state’s first health insurance co-op, a nonprofit governed for and by members. Think credit union — but for health insurance. “The members we have may very well be tomorrow’s […]