From Illinois Business Journal news services
CHICAGO – Land of Lincoln Health says it has enrolled more than 50,000 members, exceeding its 2015 membership goal by more than eight months.
In only its second year, LLH, the state’s only nonprofit health insurance Consumer Operated and Oriented Plan, has captured more than 25 percent of new enrollees in the Illinois market and had more than an 80 percent retention rate among existing members.
“Through our organization’s hard work and consumer-oriented vision, more than 50,000 Illinoisans now have access to high-quality, affordable health care,” said Dan Yunker, chief executive officer. “From the beginning, we’ve listened to members and offered an array of innovative plans that are aligned with the providers they trust to match their needs. We’re excited to be positively disrupting the way consumers, both individuals and employees, are acquiring insurance coverage with choice in Illinois.”
One of only two insurers offering plans statewide, Land of Lincoln Health says it is the lowest total cost option in many parts of Illinois, having reduced monthly premiums by as much as 30 percent compared to 2014. Leadership attributes this year’s growth to the organization’s affordable, broad-access plan options, including the eight Preferred Partner Plans offered in collaboration with well-known hospitals and health systems.
“This milestone is great news for Land of Lincoln Health and an indication that more Illinoisans are interested in high-quality, affordable health care. This community-based organization is competing with established carriers and helping lower premium costs for Illinois families and small businesses,” U.S. Senator Dick Durbin, D-Illinois, said in a statement. “The Affordable Care Act is working, regardless of the political rhetoric you hear in Washington – just look at the great work happening here at Land of Lincoln Health.”
As a CO-OP, any extra revenue earned by Land of Lincoln Health is reinvested for its customers’ benefit – by improving coverage, controlling premiums and expanding benefits.
“After taking a more measured approach and building our foundation last year, we were able to implement our full business plan this open enrollment period and offer consumers and businesses the health insurance options they have long deserved,” said Jason Montrie, the organization’s president.