One-Third Of Obamacare CO-OPs Are Now Officially Dead - One-third of the Obamacare health insurance co-ops have now failed, causing about 400,000 policyholders in 10 states to scramble for new coverage for 2016. Seven of the 23 co-ops created by the Affordable Care Act in 2011 at a cost of $2.4 billion — including many launched by passionate but inexperienced health reform activists — have since closed their doors. An eighth, the Colorado Health Insurance Cooperative, appears on the brink of default as well. The failing Obamacare co-ops have canceled health insurance for largely poor and low-income customers in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado. The co-op’s are falling like dominoes. In the last two months, the public has seen co-ops fail in Nevada, Louisiana, Tennessee, Kentucky and New York. Including Colorado, taxpayers have lost $876 million in loan money that was supposed to last for 15 years. The failed co-op’s existed for only two years before suddenly closing their doors….
Monday, October 19, 2015
Obamacare's a Failure!: And We're Surprised Why?
Why 6 Government-Funded Insurance Companies Created
Under Obamacare Collapsed - A government watchdog overseeing the
Department of Health and Human Services delivered the grim financial state of
nearly all of the co-ops—that collectively received $2.4 billion—created under
Obamacare several months ago. Now,
following the collapse of six of the 23 that launched in 2013, the co-ops, or
consumer oriented and operated plans, face an uphill battle to solidify
themselves as competitors in the health insurance market. To assist the co-ops
in getting off the ground, the Centers for Medicare and Medicaid Services
disbursed $2.4 billion in start-up and solvency loans to the 23 co-ops created
under Obamacare. However, over the last
10 months, six co-ops, which collectively received nearly $762 million from the
federal government, announced they’re closing their doors and pulling out of
the insurance market for 2016…
One-Third Of Obamacare CO-OPs Are Now Officially Dead - One-third of the Obamacare health insurance co-ops have now failed, causing about 400,000 policyholders in 10 states to scramble for new coverage for 2016. Seven of the 23 co-ops created by the Affordable Care Act in 2011 at a cost of $2.4 billion — including many launched by passionate but inexperienced health reform activists — have since closed their doors. An eighth, the Colorado Health Insurance Cooperative, appears on the brink of default as well. The failing Obamacare co-ops have canceled health insurance for largely poor and low-income customers in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado. The co-op’s are falling like dominoes. In the last two months, the public has seen co-ops fail in Nevada, Louisiana, Tennessee, Kentucky and New York. Including Colorado, taxpayers have lost $876 million in loan money that was supposed to last for 15 years. The failed co-op’s existed for only two years before suddenly closing their doors….
One-Third Of Obamacare CO-OPs Are Now Officially Dead - One-third of the Obamacare health insurance co-ops have now failed, causing about 400,000 policyholders in 10 states to scramble for new coverage for 2016. Seven of the 23 co-ops created by the Affordable Care Act in 2011 at a cost of $2.4 billion — including many launched by passionate but inexperienced health reform activists — have since closed their doors. An eighth, the Colorado Health Insurance Cooperative, appears on the brink of default as well. The failing Obamacare co-ops have canceled health insurance for largely poor and low-income customers in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado. The co-op’s are falling like dominoes. In the last two months, the public has seen co-ops fail in Nevada, Louisiana, Tennessee, Kentucky and New York. Including Colorado, taxpayers have lost $876 million in loan money that was supposed to last for 15 years. The failed co-op’s existed for only two years before suddenly closing their doors….
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