CareSource commits $5M to affordable housing in Indiana

OHIO (Inside INdiana Business) – Ohio-based CareSource says it is committing $5 million to support affordable housing projects in Indiana. The nonprofit health insurance provider says the funding is part of a $50 million investment in housing projects across the U.S. focusing on underserved communities with high rates of poverty.

The health insurer says it is searching for partners in Indiana to get the housing projects underway. The nonprofit says the COVID-19 pandemic has only worsened the number of families who are housing insecure.

“Because of the pandemic, we are intensifying our commitment to growing our housing program. We know that as housing resources improve, health outcomes also improve,” said Steve Smitherman, president of CareSource Indiana. “We will be investing in projects such as affordable housing loan funds that provide financial resources to developers who are working to create housing options for low income individuals. Our goal with this investment is to assist in producing the best opportunities for our members and Hoosiers that may be searching for affordable housing.”

CareSource cites data from the National Low Income Housing Coalition that indicates a shortage of affordable rental homes that are available to households with incomes at or below the poverty guideline or 30% of their area median income.

Additionally, CareSource says it joined 33 other organizations in asking senators and representatives to address housing instability in the next COVID-19 relief package.