A Third of Obamacare Co-Ops Shut Down

Fail cc cc

Welcome to economic reality.

(From FEE)

In total, only 15 out of the 23 CO-OPs created by the law remain. These closures reveal how ill-advised this aspect of the ACA was both in terms of lost money and the turmoil for the people who enrolled in them. The eight that have failed have received almost $1 billion in loans, and overall CO-OPs received loans totaling $2.4 billion that might never get paid back.

In addition, roughly 400,000 people will lose their plans.

Proponents of the CO-OPs believed that they would be able to offer lower premiums than for-profit insurers because they did not have the same profit motive, but even non-profit insurers cannot operate at a financial loss indefinitely.

Click here for the article.

Contact Us
You have 0 items in your cart. Proceed to checkout?
Yes, please!