Health plans

Kentucky Association of Health Plans donates $500,000 to West End Opportunity

LOUISVILLE, Ky. – Kentucky Association of Health Plans (KAHP), the trade association representing all commercial insurers and Medicaid managed care organizations in the Commonwealth, today announced a $500,000 donation to the West End Opportunity Partnership.

Metro Louisville has budgeted a budget allocation of $10 million for the partnership. The $10 million is raised from the community to unlock a state match of $10 million for a total of $30 million in seed funding.

“Our organization focuses on the social determinants of health, the non-medical factors that influence health outcomes,” said KAHP chief executive Tom Stephens. “Economic opportunity is fundamental to eliminating long-standing inequalities and we believe Partnership investments can be a real catalyst.”

Over the next 20 years, 80% of new tax revenue generated in the West End neighborhoods of Algonquin, Calif., Chickasaw, Park Duvalle, Park Hill, Parkland, Portland, Russell and Shawnee will go partnership to invest in economic development and stabilization projects of the owner.

The Partnership Board, made up of neighborhood residents and appointees from community organizations, will manage revenues and make strategic investments in West End economic development. Potential areas of interest include new and existing business loans, environmental cleanup, financing more affordable rental housing, home improvements and more.

“The partnership board appreciates KAHP’s commitment to improving the health of Kentuckians, especially those in the West End,” said David James, president of the Louisville Metro Council and chair of the West End Opportunity Board. “With the right investments, we can help foster financial empowerment and generational wealth in all nine neighborhoods.”

Under state law, homeowners and their heirs in the partnership area are protected from rising property taxes via a refundable tax credit for increases above their 2021 assessed level.

Kentucky Association of Health Plans is the professional organization representing the Kentucky health insurance community. KAHP is a leader on issues that enhance the accessibility, value and quality of healthcare in the Commonwealth. Members include Aetna, Anthem, CareSource, Humana, Molina Healthcare’s Passport Health Plan, UnitedHealth Group, and WellCare. For more information visit: www.kahp.org or follow @kyhealthplans on Twitter.