A member-owned health insurance plan is to be commenced soon sometime by the publicly traded MetroWest and St. Vincent hospitals’ parent company in association with Tufts Medical Center and its physician group. For the same, the federal government has granted them with millions of funding, a recent report has unfolded.
The grant prize has been proposed since this insurance plan is the only of its kind. The products under the plan would not only be offered to small businesses, but individuals can also get these through insurance brokers or virtual health insurance market of the state dubbed the Massachusetts Health Connector.
It is not the only program by the Massachusetts as another program has also been declared Friday to begin in Tennessee. As per the findings, 20 ‘consumer operated and oriented’ plans in all have this way been approved by the Centers for Medicare & Medicaid Services.
The program introduced under the Affordable Care Act would probably begin by January 2014 for Eastern and Central Massachusetts’ residents. Besides, supporters are of the opinion that the nonprofit Minuteman Health Initiative would easily be able to cut costs with its ownership structure.
“Depending on how it is implemented and received by consumers, the program could become ‘a belly flop’ or ‘a disruptive innovation worth watching’”, said health policy professor John McDonough.
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