The Taxpayer-Funded Louisiana Co-Op Created Under Obamacare Has Collapsed

The Daily Signal ^ | 7/27/15 | Melissa Quinn

[wildwoodla]

Just two years after Obamacare’s implementation, a Louisiana nonprofit insurer that received nearly $66 million in taxpayer-funded loans is closing its doors.

[wildwoodla]

So far, Louisiana is one of many states refusing to set up a state exchange.

[GeronL]

A lot of lefties started up paper insurance companies in order to nab some subsidies it seems like.

[GeronL]

Solyndra Health

[SeekAndFind]

RE: The Taxpayer-Funded Louisiana Co-Op Created Under Obamacare Has Collapsed

Was Presidential Candidate Bobby Jindal involved with this?

I would be sorely disappointed if he were.

[PGR88]

The States don’t have the power and advantage of an unbacked, fiat currency that can be created at will, manipulated interest rates and $19 Trillion in debt with more on the way.

That’s why the Federal Government will continue to grow the progressive state, continue to centralize power and continue to trample states’ and your rights.

[E. Pluribus Unum]

This just proves the need for single-payer, where every health care dollar goes through the sticky fingers of the US feral government.

[Red Badger]

Gee, for $66 million in taxpayer-funded loans you’d think they could pay for every Louisianan....................

[Robert DeLong]

The Affordable Care Act passed into law March 2010 provided seed money to fund health insurance cooperatives in all 50 states. Section 1322 of the ACA requires that a health cooperative, known as a "Consumer Operated and Oriented Plan” (CO-OP) is formed as a nonprofit, controlled by and operated on behalf of its members/consumers.

CO-OPs, like LAHC , are non-profit, member-governed health insurance companies with a focus on developing programs intended to improve the quality of health care delivered to members, such as:

preventive programs offered with early health screenings; focusing on health outcomes based on sound clinical evidence;

ongoing measurement and comparison of performance to clinical quality standards;

a comprehensive medical network;

coordinated care programs;

opportunities for members to participate in their care.

A CO-OP uses profits for members’ benefit, and is designed to offer individuals and small businesses affordable, customer-friendly, and high-quality health insurance options.

So to answer your question, no. Jindal had nothing to do with this.

[wildwoodla]

As far as I know LA’s exchange is a federal one? These are old links, but may be helpful.

Gov. Jindal confirms Louisiana won’t do health insurance exchange, report says.
http://www.nola.com/health/index.ssf/2012/11/gov_jindal_confirms_louisiana.html

http://kff.org/health-reform/state-profile/state-exchange-profiles-louisiana/

http://kff.org/health-reform/fact-sheet/state-profiles-uninsured-under-aca-louisiana/

[Ray76]

Nice.

[Pontiac]

Just two years after Obamacare’s implementation, a Louisiana nonprofit insurer that received nearly $66 million in taxpayer-funded loans is closing its doors.

All of this is according to plan.

It is just a bit ahead of schedule.

This was supposed to happen no earlier than 2017 when a Republican President was in office.

Well the best laid plans of mice and Democrats. So the saying goes.

[Oscar in Batangas]

Too small to survive, I suppose, will be the excuse.

[nascarnation]

Solyndra Health

Nicely played.

Crony capitalism rocks!