Connecticut’s largest group of doctors hopes to get into the health insurance business.
The Connecticut State Medical Society and a network of doctors filed paperwork with the U.S. Department of Health and Human Services before an Oct. 17 deadline to start operating a co-op that would be available to customers in 2014. The “consumer-operated and oriented plan,” or co-op, will be sold on health exchanges that were a requirement of federal health care reform as a marketplace for individuals shopping for health coverage. Any such plan would require approval by federal and state officials.
The co-op would have a board of doctors and consumers that would set premiums, or possibly sub-contract with a health insurer to provide suggested premiums and policy terms. The board also would negotiate contracts with the Connecticut State Medical Society-Independent Practice Association, which is a network of doctors and medical providers. The independent practice association is the largest and only such group of its kind in Connecticut.
Both the association and the medical society have been working with federal and state agencies on an application to form a co-op.