Minuteman Health Receives HMO License and Premium Rate Approval from the Massachusetts Division of Insurance
BOSTON, Aug. 19, 2013 /PRNewswire/ -- Minuteman Health (www.minutemanhealth.org), Massachusetts' only member-governed, independent non-profit health insurance plan has received its license to operate as a Health Maintenance Organization from the Massachusetts Division of Insurance (DOI). Minuteman also had their premium rates approved for 2014. All health insurance providers must submit their plans and premium rates for approval by the DOI in order to sell their plans throughout the following calendar year.
"Minuteman's license and approval by the DOI marks the entry of the only member- governed health insurance provider into the Massachusetts marketplace," said Tom Policelli, Minuteman CEO. "Minuteman looks forward to fulfilling its goal of delivering access to lower-cost, high quality health care for individuals and small businesses in Massachusetts."
Minuteman currently has a provider network of more than 3,000 hospitals, physicians, and other health care providers in Central and Eastern Massachusetts, and is growing daily. Minuteman is pleased to bring new competition and choice to the Massachusetts Commonwealth.
Open enrollment for members will launch October 1, 2013 through the Minuteman website, its broker network, and the Massachusetts Health Connector. Coverage for these plans will begin January 1, 2014.
Minuteman Health is a new member-governed, non-profit health insurance option for Massachusetts' residents. The company will offer individuals and small businesses lower-cost high-quality care with unprecedented transparency, increased efficiency and its unique member-governance structure. Plan members will directly participate by electing the board of directors, becoming board members and providing input for cost management and service delivery. Minuteman will be marketed through their website, brokers and the Massachusetts Health Connector.
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SOURCE Minuteman Health