Vermont Health CO-OP applies for Certificate of Authority
MONTPELIER – The Vermont Health CO-OP has applied to the Department of Financial Regulation for a Certificate of Authority to do business as an insurance company in Vermont.
DFR Commissioner Steve Kimbell has appointed Robert V. Simpson Jr. of Burlington to act as hearing officer and a docket number (12-036-I) has been assigned. Simpson announced that a pre-hearing conference will be held Monday, Nov. 26 at 1:30 p.m. at the Department of Financial Regulation, 89 Main St. in Montpelier.
Simpson will also be responsible for ruling on motions for intervention and other matters, presiding over a public hearing on whether the co-op should be granted a license and making recommendations to the commissioner. Kimbell will make the final decision.
The federal Affordable Care Act provides loans to groups at the state level to start non-profit, member-run insurance companies or co-ops (Consumer Operated and Oriented Plan). In June, The U.S. Department of Health and Human Services announced that The Vermont Health CO-OP was eligible to receive $33.8 million.