Vt. Health Co-op hits back at state

May 28, 2013, 6:00 pm

SOUTH BURLINGTON, Vt. (AP) — A newly created cooperative health insurance company set up last year to serve Vermont says it will continue to fight for its future despite last week's state decision not to grant it a license.

Christine Oliver, CEO of the Vermont Health Co-op, issued a statement Tuesday saying there many inaccurate and misleading statements in the license denial ruling from the state Department of Financial Regulation.

The department found the co-op's rates would be higher than those of other insurers and that it therefore would not attract enough customers to be financially viable.

Oliver says the co-op had planned all along to adjust its rates downward, and that it will be competitive.

She plans a media briefing Wednesday to offer more details.

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