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Feds OK $75M loan for health plan

June 09, 2012 12:01 am • Last Updated: October 31, 2014 9:31 am

Hartford (AP) - Federal officials have agreed to provide funds to help a launch a new, private, nonprofit, consumer-governed health insurance company in Connecticut.

HealthyCT announced Friday it had received $75.8 million in loans from the Department of Health and Human Services. The funds will be used to help the entity apply for licensure as an insurer.

The funding comes nine months after HealthyCT was formed by the Connecticut State Medical Society and a statewide independent practice association of physicians. HealthyCT is expected to offer insurance products both on and off the state's planned Health Insurance Exchange, essentially an online marketplace for health insurance for individuals and businesses.

Health coverage plans will be offered beginning 2014.

Entities like HealthyCT, to be run by consumers, were encouraged under the federal health care reform law.

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