|By Marketwired .||
|January 24, 2014 04:39 PM EST||
DENVER, CO -- (Marketwired) -- 01/24/14 -- Colorado's first statewide cooperative health insurance carrier, Colorado HealthOP, has made significant progress in the Colorado health insurance marketplace. The CO-OP announced today that it holds 10 percent market share among Coloradans who enrolled in health insurance on Connect for Health Colorado.
New Colorado HealthOP members point to the insurer's member-driven philosophy and its focus on preventive care as reasons they chose the CO-OP when shopping on the exchange.
Brian Novak of Denver, a newly enrolled Colorado HealthOP member, hasn't always had a positive outlook on health insurance. Novak is a type 1 diabetic and cancer survivor. He is also very active and health-conscious, but his pre-existing conditions have made it difficult for him to get quality health insurance coverage in the past. Colorado HealthOP's non-exclusive policies mean that his medical history is no longer a roadblock to improved preventive coverage.
"When I started researching (on the exchange) I couldn't find anything that worked for me," said Novak, the 41-year-old self-employed outdoor adventure enthusiast. "I found Colorado HealthOP. I was intrigued by the idea of a non-profit health insurance company. It resonated with me because they are proactive about keeping members costs down and member health a priority. This was a very different approach to healthcare than I had experienced with other insurance companies. It made sense."
Colorado HealthOP credits its market momentum to its cooperative business model and value-based benefits. These philosophies and practices allow the organization to provide sustainable healthcare options to Colorado consumers.
These philosophies have clearly resonated with Coloradans. In some areas of the state, the CO-OP's market share exceeds 25 percent. This is no small feat for a company that began operating just over a year ago.
"We are very encouraged by our enrollment numbers," said Julia Hutchins, chief executive officer of Colorado HealthOP. "They really affirm that our member-driven, cooperative business model is not only attractive but necessary to Colorado consumers."
Colorado HealthOP's current enrollment numbers meet the CO-OP's membership projections and put the insurer on track to meet its first-year enrollment goals.
The CO-OP has seen the following enrollment trends:
- Colorado HealthOP holds especially strong market share among marketplace shoppers in the following areas of the state:
- Boulder County 27.0%
- Summit County 22.0%
- Park County 21.7%
- Denver County 11.8%
- On average, more than 60 people per day have signed up for Colorado HealthOP policies.
- The average age of Colorado HealthOP enrollees is two years younger than all Coloradans who have enrolled on the state marketplace.
Coloradans can enroll in Colorado HealthOP plans on the state's online health insurance marketplace, Connect for Health Colorado, through March 31, 2014.
About Colorado HealthOP
Colorado HealthOP offers a new alternative to traditional health insurance in Colorado. A nonprofit health insurance cooperative, Colorado HealthOP and its members are committed to providing affordable, quality coverage to individuals and employers interested in making a difference in their own health, their employees' health and the health of their community. Colorado HealthOP aims to improve health outcomes by putting the responsibility for consumers' care back into the hands of the cooperative's members and providers. A private market solution tailored for individuals and employers, Colorado HealthOP will begin open enrollment in October 2013 via Connect for Health Colorado, Colorado's health insurance marketplace, and through independent brokers and agents. Coverage will begin January 1, 2014. For more information about Colorado HealthOP, please visit www.COHealthOP.org or call 720.627.8900.