An $87.8 million federal loan to fund a new health insurance cooperative in South Carolina remains intact after fiscal cliff negotiations left some states without any money to fund their own insurance cooperatives.
Adrian Grimes, communications director for Consumers’ Choice, the new statewide health insurance cooperative headquartered in North Charleston, said the fiscal cliff deal defunded any state cooperative that had not already secured a federal loan.
“We are one of the 24 that were funded,” Grimes said.
State health insurance cooperatives, owned by their policy holders, were established by the 2010 Patient Protection and Affordable Care Act. South Carolina’s Consumers’ Choice cooperative will begin enrolling members this fall.
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