Gov. Quinn Welcomes Health Insurance 'Co-Op'

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CHICAGO (AP) -- Illinois Gov. Pat Quinn is welcoming the news that a nonprofit organization plans to offer health insurance in the state starting in 2014.

The new nonprofit -- called Land of Lincoln Health -- announced last week it is applying for a state license and has received a $160 million federal loan to begin operations.

In a statement Monday, Quinn called the announcement "another positive step to provide the people of Illinois more choices" in health care.

President Barack Obama's health care overhaul law created a category of insurance carriers called Consumer Operated and Oriented Plans, or "co-ops."

Land of Lincoln Health was incorporated by the Metropolitan Chicago Healthcare Council. It's the first co-op in Illinois to receive approval from the U.S. Department of Health and Human Services.