Posted on 01/14/2015 8:00:13 AM PST by Oldeconomybuyer
... CoOportunity Health has failed. The Affordable Care Act set aside funding for health care co-ops, to enable the organizations to compete in places where there aren’t many insurers. CoOportunity Health was the second largest co-op in the country in terms of membership, and one of the largest in terms of the federal funding it received.
But then CoOportunity hit a kind of perfect storm, says Peter Damiano, director of the University of Iowa’s public policy center. First, the co-op had to pay a lot more medical bills than those in charge expected.
“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.”
On top of that, when the Obama administration in late 2013 allowed people to keep the insurance plan they already had, many customers happy with Wellmark stayed put. Damiano says this meant many of the customers who flocked to CoOportunity tended to be people with expensive health problems who’d had trouble paying for insurance before.
Not only were the patients sicker, but CoOportunity’s leaders initially thought they would enroll about 12,000 people in Iowa and Nebraska. They got about ten times that, according to Nick Gerhart, Iowa’s insurance commissioner.
Also, Gerhart says, the co-op thought it was going to get more federal money.
“On December 16 around 4 o’clock we were informed they weren’t going to get any further funding,” he says. “Nothing was pulled — it just wasn’t extended further.”
Gerhart is now essentially the CEO of the co-op because the state has taken it over. He likens the situation to a small business suddenly having its credit shut off by the bank.
(Excerpt) Read more at kaiserhealthnews.org ...
“...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 guess we are not as healthy a people as we think we are.
According to plan.
So that idea of letting the young healthy pay skyhigh premiums so the older unhealthy uninsured could get insurance isn’t working out?
Another Lib failure.
But it looked so good on paper!
Libs want to be judged by their intentions, not the results of their actions.
almost as if Rube Goldberg himself had been named HHS Secretary
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.
Its only unexpected to someone wanting to be lied to.
“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.
They never think past their noses...JUST like “O”, the perennial ‘beginner’ who is ALWAYS present but NEVER relevant!
Libs want to be judged by their intentions, not the results of their actions.
Winner. That’s exactly right.
I think we’ve been Grubered.
Golf is recreation... it’s what you do when your work is DONE!
PPPPPP
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