The Colorado Health Insurance Cooperative, Inc. (CO-OP) was notified last month by the U.S. Department of Health and Human Services that its loan application for $69 million to start and operate a statewide nonprofit health insurance CO-OP was approved. The CO-OP is a Consumer Operated and Oriented Plan, a new kind of nonprofit health insurance company intended to overcome some of the access issues commonly experienced in rural areas by offering affordable, high quality health plans to both rural and urban Coloradans.

The Colorado Health Insurance Cooperative (CO-OP) is sponsored by the Rocky Mountain Farmers Union Educational and Charitable Foundation. Many consumer groups, healthcare provider organizations, another nonprofit health plan, the Colorado Medical Society and the National Federation of Independent Business supported the CO-OP’s loan application process.

Colorado Public Radio reporter Ryan Warner discusses health insurance cooperatives and the efforts to build a member owned CO-OP in Colorado. You can listen to Ryan’s interview here to learn more about what this means for Coloradans.