Approval by the Kentucky Department of Insurance has resulted in the Kentucky Health Cooperative's foray into the Commonwealth of Kentucky's HMO health insurance market.
"This is a red letter day for Kentuckians," said Janie Miller, CEO of the cooperative, in a release. "Although health care cooperatives have offered quality care and lower overhead expenses to members since the 1930s, they're the 'newest kid' on Kentucky's health insurance block. Efforts are underway to help the public become familiar with the cooperative concept."
"Think member-owned and member-operated credit unions. Think food and rural electric cooperatives. Think agriculture cooperative extension offices, and consider the impact such organizations have made. Doing so makes it easy to imagine the potential, similar value to the citizens of our Commonwealth offered by a health cooperative."
Board of Directors Chair Joseph Smith said, "By receiving approval to offer health plans to Kentuckians, a gateway has been opened to individuals and small businesses seeking more affordable, consumer-friendly, quality-driven health insurance options.
"This approval from the Department of Insurance means that, starting Oct. 1, hundreds of thousands of Kentuckians may voluntarily select health insurance coverage from a brand-new entity, the not-for-profit Kentucky Health Cooperative."
The Kentucky Health Cooperative provides member health care in the Commonwealth of Kentucky.
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