Midwest Members Health, a Des Moines-based nonprofit health insurance company in the formation stages, has changed its name to CoOportunity Health, according to information posted on its website. 

The new name reflects the company's unique structure as a member-owned cooperative, said Cliff Gold, one of CoOportunity Health's principals.

The nonprofit in February received approval for a $112 million low-interest federal loan under provisions of the Patient Protection and Affordable Care Act.

Gold said his company expects to receive formal notification this week from the Iowa Insurance Division that it has been licensed to operate in Iowa.

Its health insurance plans will focus primarily on the small-group market in Iowa and Nebraska. To read a related Business Record article, click here.