The Centers for Medicare & Medicaid Services (CMS) seem to be taking a stern approach to requiring Consumer Operated and Oriented Plan (CO-OP) insurers to shift to a monthly reporting schedule.
See also: CMS updates CO-OP paperwork packet
Drafters of the Patient Protection and Affordable Care Act of 2010 (PPACA) created the nonprofit, member-owned plans in an effort to increase the level of competition in state individual and small-group health insurance markets.
The insurers cannot raise money by selling stock or getting support from existing health insurers and, at least, one has collapsed.
CO-OPs have been reporting their results every quarter.
CMS, an arm of the U.S. Department of Health and Human Services (HHS), recently began putting the shift to a monthly reporting schedule through a routine paperview review process.
Federal agencies add and change many reporting processes without getting any comments.
For the CO-OP reporting frequency change, CMS received comments from Meredith Johnson of Health Republic Insurance of Oregon and Jeff Kerscher of InHealth Mutual of Ohio. Both sent their comments to Nicole Gordon, a CMS official.