Consumers’ Choice Health Plan (CCHP) based in Charleston, SC was awarded status as a Consumer Oriented and Operated Plan (CO-OP) by the U.S. Department of Health and Human Services in March, 2012.
The company was established as a private, non-profit insurance company. CO-OPs were created as part of the Affordable Care Act to provide consumers and employers with a not-for-profit, consumer-focused health plan alternative that could compete fairly with other insurance companies. In order for an organization to keep its CO-OP designation, it was required to return value and profit back to subscribers in the form of consumer-friendly plans, reduced premiums and/or expanded services.
CCHP drew funding from its loan agreement, developed operations during 2012 and 2013, and began providing health coverage in January 2014. In mid-October 2015, CCHP voluntarily entered state-approved wind down and runoff after careful analysis of its current and future financial condition and lengthy discussions involving the Centers for Medicare & Medicaid Services and the SC Department of Insurance. The decision to wind down and run off its business meant CCHP would not offer plans for 2016 and any policies still in effect would terminate at the end of 2015.
CCHP is presently in liquidation. On March 28, 2016, the Court of Common Pleas, County of Richland, in the State of South Carolina authorized the liquidation of CCHP and directed the liquidator to liquidate the assets of the company. Information about liquidation and the proof of claim process is available HERE.