Posted on 10/27/2015 1:23:53 PM PDT by george76
A South Carolina health insurer has become the ninth insurance cooperative formed nationwide under the Affordable Care Act to fold. Consumers' Choice Health Insurance Co. said Thursday that it will not sell policies in 2016, a decision that will leave 67,000 individuals and business customers looking for new coverage. Ray Farmer, director of the South Carolina Department of Insurance, said Consumers' Choice and state regulators reached a mutual decision to shut down the company's business. He said the company was in a "financially hazardous condition."
...
a solid new slogan for the entire law. The New York Times analyzes the "cascading failures" of Obamacare co-ops across the country:
...
Only 14 of the so-called cooperatives are still standing, some precariously. The toll of failed co-op insurers, which were intended to challenge dominant companies that wield considerable power to dictate prices, has left about 500,000 customers scrambling to find health insurance for next year...At a time when the industry is experiencing a wave of consolidation, with giants like Anthem and Aetna planning to buy their smaller rivals, the vanishing co-ops will leave some consumers with fewer choices — and potentially higher prices...The shuttering of these start-ups amounts to what could be a loss of nearly $1 billion in federal loans provided to help them get started. And the cascading series of failures has also led to skepticism about the Obama administration’s commitment to this venture. Some policy analysts say they were doomed from the beginning.
Doomed from the beginning. So why flush a billion taxpayer dollars setting them up?
...
Altogether now, true believers: It's working.
(Excerpt) Read more at townhall.com ...
Proceeding according to plan...
Wanna bet Boner’s deal will take care of this?
The goal of Single Payer government medical looms closer and closer.....
Yup. It will start with a revival of the Public Option next year when too many cannot find coverage.
Well gee, I guess they will be “forced” to have to go to single-payer. Didnt see that one coming.
Hawaii’s just collapsed at the cost of $300 million dollars to the Hawaii taxpayers.
And basically not a peep from anyone.
The whole damn odumbo administration could collapse and I couldn’t be happier.
Careful what you wish for. The collapse of obolacare will signal the start of socialized medicine in America. That's been the plan from the start. Obolacare was designed to fail, and when it does, the answer will be universal coverage. Watch. It's coming.
And, by the way, we are forced to find coverage.
My...my. How the “transformation” continues apace.
Where the heck did all of the money go?
Lemme guess — it is in the pockets of the Obama and Democrat cronies.
Millions of it went to pay for a non-operating website made by the same wonderful folks who built the federal non-operating website.
Lemme guess — it is in the pockets of the Obama and Democrat cronies.
Bingo
We've been had, folks.
To be clearer: No Freepers were had. Only the socialists, leftists, bleeding-hearts, and other assorted dopes were had.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.