BURLINGTON, Vt. -
Vermont's newest heath insurance option is now officially open for business, except it can't actually provide insurance -- yet.
The Vermont Heath Co-op is a newly created non-profit option for heath insurance required of all 50 states by federal law under the 2010 Affordable Care Act. The Co-op's CEO, Christine Oliver, said this is the first new heath insurance provider in Vermont in more than 20 years.
"It's a completely different model for insurance -- meaning you own your heath -- you have a stake in how this company operates. What's important to you as a member for you and your heath going forward," Oliver said. "We know that in 2014 we'll have over 100-thousand Vermonters looking for heath insurance when the exchange is implemented and we're going to be there to be an option."
Oliver said the Co-op will operate much like a credit union for heath insurance and all profits go right back into lowering premiums. It will start enrolling members this summer.
