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 ...
*sigh*, I should have used the /sarc tag.
of the worst sort. It's seldom a good idea to invite a cloud of locusts or a crowd of Democrats onto your property.
...unless one knows how to read actuarial tables. Mr. 57 States should stick to golf; the math is simpler.
I guess CoOportunity Health got all gruberred up.
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?
Ha! The powers that be (PTB) calculated premiums could come down $2500, where reality--under their system, at least--suggests the number should have been a $2500 increase.
HF
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
they tend to have repeated infections from needle sticks, liver problems and stomach problems from drinking, overweight because of lack of meaningful activity and watching too much tv and playing on their Iphones...
yes, that is a costly group...let aside they LOVE coming and staying at the hospital where they can demand free dilaudid shots, meals all day, and cable tv...(the real knowledgeable will demand dilaudid, Phenergan, and Benadryl all at the same time via IV and "give it fast").
yes, that is an expensive group...and its getting worse.
The ER is their family doctor.
I hate going there for ANYTHING!
I don’t even want to breath the same air as some of those bust outs!
hey hey HEY! A little respect. it was always a little non-standard but Rube’s stuff worked. Promoting anything Obozo did to the level of Rube Goldberg is an insult to home-jobbers everywhere.
I sure wish I hadn’t thrown my money away on healthcare insurance since obama took office. I could have bought a new car.
“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. “
Worth repeating Lorianne, so we will:
“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. “
Quasi-Insurance Banking Lobby Extortion-Exaction attempt,
Note, the main player here is the Insurance (so called) commissioner
MBS scam
2008 Bailout
QE1, QE2, fails, so panic rush for 2008 ExtortionCare.
Consumer wallet shutdown
Panic to register millions of Mexican squatters.
“This insanity is not going to end well for the entire country”
1. Wallet shutdown.
2. Prague 1968
Sometimes you get what you wished for, and then fail because of it. It is called “classic liberalism”.
Basically they weren’t charging enough.
I recommend ERs at small, outer suburban hospitals that have ties to the urban networks. Waits are a lot shorter, the facilities safer (on multiple levels), and the staff generally speaks English. unless, of course, you have a fresh gunshot. Then you want the public hospital ER that treats dozens a day.
Obama administration in late 2013 allowed people to keep the insurance plan they already had.
I don’t remember that.
I can only imagine how much those who ran this operation took home.
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