Stranded patients! 854,872 individuals enrolled in failed ObamaCare Co-ops, costing the taxpayers $1,711,040,390 in federal loans!
From The 16th Obamacare Co-Op Has Collapsed: Here’s How Much Each Failed Co-Op Got in Taxpayer-Funded Loans (July 12, 2016):
...The co-ops, or consumer operated and oriented plans, were intended to create competition and choice in areas of the country where consumers had few options.Read the entire article HERE.
The 23 co-ops—not including Vermont’s co-op, which never opened its doors—received $2.4 billion in startup and solvency loans from the Centers for Medicare and Medicaid Services.
The 15 co-ops that have since closed their doors received more than $1.5 billion in loans. The federal government awarded Oregon’s Health Co-Op specifically $56.6 million....
Health policy experts expect more co-ops to collapse in the wake of the federal government’s announcement.
Just eight of the 23 co-ops that launched remain....
And there's this, dated August 16, 2016: Aetna decision exposes weaknesses in Obama’s health-care law. Excerpt:
...Insurance giant Aetna’s decision to stop offering much of its individual coverage through the Affordable Care Act is exposing a problem in President Obama’s signature health-care law that could lead to another fraught political battle in Congress.Read the rest HERE.
Aetna’s announcement...was the latest sign that large insurers are losing money in the Affordable Care Act’s marketplaces, heightening concerns about the long-term stability of a key part of Obama’s domestic policy legacy. But addressing this issue could open the door to a nasty political fight, given that some Republicans have vowed to repeal the law outright.
If insurers continue to lose money, more are likely to withdraw from the marketplaces, a move that would reduce choices for consumers and could contribute to higher premiums. In one county, Aetna’s exit in 2017 could leave no insurers offering policies through its marketplace....
Only those riding unicorns under rainbows can possibly believe that any insurance provider, private or public, can survive by disregarding the law of the balance between high-risk/low-risk in the pool of insureds.