The SBAC, along with the Coalition for Cooperatives, continues to collaborate with a group of organizations, including insurance brokers, health care providers and medical networks, to build and populate Illinois’s first health care cooperative.
As the group completes the grant application process to obtain funding for the cooperative, small business groups across the state are providing their endorsement by writing letters of support. Click here to read the SBAC letter supporting the implementation of a cooperative.
At the urging of the SBAC, legislation authorizing health care cooperatives was introduced by Representative Karen May (D-Highland Park) and Senator Kwame Raoul (D-Chicago). After the legislation passed through both House and Senate Insurance committees, the Illinois Department of Insurance determined self-insured cooperatives could be formed under Illinois law without legislation. This determination allows small businesses to compete in the free market with large insurance companies that presently dominate health care. Once a health care cooperative is in place, small business will see greater control, increased transparency, and more competitive health care costs.
This is just one more example of what small businesses can achieve when we band together and speak with one voice. While much work remains, getting self-insured coops authorized in this state is a major accomplishment for the small business community.