“...pool of people was larger than expected, was sicker than expected,” Damiano says. “So their risk became much greater than the funds that were available.”
Y’A
THINK?
In plain English: This enabling shill corporation couldn't find enough suckers with money who were willing to foot the bill(via increased premiums) for a bunch of low-life no goods who couldn't figure out how to get on Medicaid..
Yes, the brilliant ones.
Totally unexpected.
Also, Gerhart says, the co-op thought it was going to get more federal money.
So the WHOLE THING was a government set up and run insurance scam from start to finish. This insanity is not going to end well for the entire country. I'm starting to believe that their needs to be a Darwin Award for entire countries and that we will probably be the first award recipient.
I had an Aunt who was a very kind lady. My Uncle had passed away, but he had a great health insurance plan which she continued with. For her, every Monday was “Go to the big city and see the Doctor day”. My cousin would pick her up and they would go to the big city so my Aunt could see her Doctor. They also ate at restaurants and went shopping. Going to the Doctor, because of the low cost, became a social event for a lonely lady. Going to the Doctor isn’t always about health issues.
“CoOportunity Health’s pool of people was larger than expected, was sicker than expected,” Damiano says. “So their risk became much greater than the funds that were available.”
Unexpected. The Feds are one constant face palm these days.
I think we’ve been Grubered.
PPPPPP
That company was started up just to get federal handouts I bet
That’s unexpected. Who would have guessed that socialism would fail again; weren’t they due for a success after failing every single time it was tried in the past?
They were expecting 12,000 and got ten times that many. This is exactly what will happen to the planners for amnesty for the much publicized 12,000,000 illegals. It will exceed that number many times.
Bump
I sure wish I hadn’t thrown my money away on healthcare insurance since obama took office. I could have bought a new car.
Obama administration in late 2013 allowed people to keep the insurance plan they already had.
I don’t remember that.
Was this the first one to go down?
Expect much more of this in the future, leading to cries of, “Single payer is the only way out of this mess.”
Why doesn’t the GOP sit back and let this thing fail? Why intervene? Let it crash and burn until the people are really angry about it.