Wisconsin: Tales from the Co-Op!
A source who doesn't wish to be named attended the annual meeting of the Wisconsin Common Ground Co-Op the other day (Common Ground is one of the 11 Co-Ops which survived last year's Risk Corridor Massacre), and forwarded a few tidbits of info:
- CG is closely watching the class action lawsuit filed by the now-defunct Oregon Co-Op against the federal government over the lost risk corridor payments, as CG would benefit from a win in the case.
- CG is open to considering outside investment funding now that CMS is allowing the Co-Ops to pursue it, but isn't scrambling to seek it out just yet. They did note that Wisconsin has a law applying to the Co-Op which requires that all board members use it for their own insurance (which makes total sense, actually). Since any outside investor would likely be on the board, they'd also have to utilize CG coverage.
- CG is requesting 12.5% weighted average rate hikes for 2017, which is actually at the lower end of the spectrum nationally so far this year. They're also adding a new Silver plan.
- I was also provided with an image of their overall financials for 2015 (see below). They didn't have much to say about this year since it's only May but seemed comfortable with how things are proceeding so far, and said their MLR (medical loss ratio) is "dropping" although from what to what I have no idea.