BOSTON (CBS) – Tufts Medical Center and Vanguard Health Systems have been awarded an $88 million loan by Medicare to launch a new, non-profit, co-operative health insurance plan with a very different business model.

The new Minuteman Health will be designed and run by a board of consumers, working with health professionals.

WBZ NewsRadio 1030′s Anthony Silva reports

Tufts Medical Center President Eric Beyer tells me many hospitals have already shown interest.

Beyer says one goal is to find a more affordable opportunity for people who are price sensitive, yet also sensitive to high quality. He expects small employers, and those who buy insurance through the state’s health connector to be the ones who will be most likely to use the plan.

Beyer says the Minuteman Healthcare co-op will simplify healthcare delivery in many ways. For example, rather than a patient getting five or six bills for one visit to the doctor, that person will get just one bill.

The new co-op is funded under Obamacare, which is attempting to establish co-ops in every state.