Montana Insurance Company to Expand in Idaho
HELENA, Mont. (AP) — A nonprofit health insurer in Montana has been granted another $27 million in federal funding to expand into Idaho. The Montana Health CO-OP announced its potential expansion on Monday. MHC President and CEO Jerry Dworak tells Lee Newspapers of Montana that it still must apply to the Idaho Department of Insurance to be licensed to sell insurance there.
MHC is one of three firms selling health insurance policies on Montana's federally operated online marketplace. If approved, it would be the fifth company selling policies in Idaho.
MHC received a $51 million federal loan in 2012 under the Affordable Care Act. The U.S. Centers for Medicare and Medicaid Services awarded MHC $1.84 million in startup costs for the Idaho project. If it is approved, it will receive a $25 million operational loan.