Calif. Legislature OKs Bill For Consumer-Owned Health Plans

Law360, New York (August 31, 2012, 5:04 PM EDT) -- The California Legislature passed a bill to allow and regulate nonprofit insurers offering new consumer-owned health insurance plans under the Affordable Care Act that are targeted at helping low-income residents, the California insurance commissioner said Thursday.

The bill, A.B. 1486, was penned by state Assemblyman Richard Gordon, D-Menlo Park, and sets up so-called Consumer Owned and Operated Plans to be offered by new nonprofit health insurers under the ACA. The insurers will be directed by customers and will use their profits to benefit them, according to...
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