9cff82d2__Your_Indispensable_Guide_TIME__What_it_is
[Term] Health-Insurance Cooperative [Why it matters] The Senate Finance Committee has proposed the creation of 50 state-based co-ops as an alternative to a nationwide government-run health-insurance plan. Many policy experts think co-ops would not be able to pressure the private insurance industry to lower rates as effectively as a federally-run insurance plan, but some moderate Democrats and Republicans in the Senate believe creating these, instead of a federal plan, is the only way to pass bipartisan health-care-reform legislation. [What it is] 
Pools of people band together to collect premiums and pay health-care expenses without the help of the government or private insurance industry. These co-ops are nonprofit and owned and operated by members.
Understanding the Health-Care Debate: Your Indispensable Guide-TIME
What it is