Health Republic Insurance of New York
| Company type | Not-for-Profit, CO-OP |
|---|---|
| Industry | Health Insurance |
| Founded | 2013 |
| Headquarters | |
Area served | New York State |
| Website | healthrepublicny.org |
Health Republic Insurance of New York was a not-for-profit health insurance cooperative in New York State.
Health Republic was created as one of 23 Consumer Operated and Oriented Plans, known as CO-OPs, established under the Affordable Care Act to increase competition in the marketplace and give consumers a voice in their healthcare.[1] Health Republic began selling insurance plans to individuals and small groups, both on and off the NY State of Health marketplace, in October 2013.[2]
During the 2013-2014 Open Enrollment period, Health Republic captured the largest marketshare on the New York State of Health marketplace.[3] It became the largest CO-OP in the country during this period.[4]
In September 2014, Health Republic members were able to vote for Member Directors on the CO-OP's Board of Directors, with nine members ultimately elected from across the state, making up a majority of the Board.[5]
For 2015, Health Republic expanded its service area by 11 counties upstate to a total of 43 counties statewide;[6] added two new products: an out-of-network plan for small groups[7] and a higher-deductible plan for individuals;[5] and expanded its provider network in the Albany area[8]
On September 27, 2015, Health Republic announced that it would begin the processes of ceasing operations, effective immediately.[9]
References
[edit]- ^ Andrews, Michelle. "Health Insurance Co-Ops Offer New Option For Some Marketplace Shoppers", Kaiser Health News. October 15, 2013.
- ^ Billups, Erin. "Health Republic has some of the state's lowest rates" Archived 2016-03-04 at the Wayback Machine, NY1 News. October 21, 2013.
- ^ Mogul, Fred. "Co-op Insurer Tops NY Health Exchange", WNYC. June 23, 2014.
- ^ Radnofsky, Louise. "Mixed Bag for Health Co-Ops", The Wall Street Journal. June 11, 2014.
- ^ a b Drury, Tracey. "Health Republic growing marketshare in WNY with co-op model", Buffalo Business First. November 6, 2014.
- ^ "Health Republic expands upstate in second year", Crain's New York. January 26, 2015.
- ^ Furman, Phyllis. "New York small businesses can easily SHOP for health care", NY Daily News. February 5, 2015.
- ^ Hughes, Claire. "NYC-based co-op health insurer adds St. Peter's to network", Albany Times Union. December 1, 2014.
- ^ Friedman, Debra (September 27, 2015). "www.healthrepubuclicny.org" (PDF). Healthrepublicny.org. Archived from the original (PDF) on September 28, 2015. Retrieved September 27, 2015.