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Official: 8 of 11 Remaining Obamacare Co-Ops on the Brink
The Washingon Free Beacon ^ | February 29, 2016 | Ali Meyer

Posted on 02/29/2016 7:02:53 PM PST by Kaslin

An official with the Centers for Medicare and Medicaid Services told lawmakers last week that eight of the 11 remaining Obamacare co-ops have been selected for "corrective action plans" and "enhanced oversight."

Twenty-three co-ops were created under the president's health care overhaul, and so far more than half have collapsed and are no longer selling plans in the marketplace. The 12 co-ops that went out of business operated in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina and a co-op serving Iowa and Nebraska.

The agency's chief operating officer, Dr. Mandy Cohen, told the House Oversight and Government Reform committee that the 11 co-ops that remain are "being monitored closely," and that eight have a corrective action plan in place and are under enhanced oversight.

Cohen explained that a co-op is put on a corrective action plan when the agency identifies issues with its finances, operations, compliance, or management processes.

Rep. Buddy Carter (R., Ga.) asked Cohen about a Department of Health and Human Services inspector general report that found that all but one of the co-ops lost money in 2014.

"CMS was aware of this, that almost all of the co-ops incurred losses in 2014," Carter said. "If you were aware of that and some were already shutting down why did you continue to award the taxpayer dollars in loans?"

"We share your concerns here," Cohen said. "These programs certainly have challenges which is why we've been doing the extensive and aggressive oversight that we have."

Lawmakers asked Cohen which of the eight co-ops on corrective action plans was the most likely to fail, how many co-ops were still profitable, and how many were meeting enrollment projections.

Cohen told lawmakers she would follow up with specific details.

"Half of them are collapsed--closed--your term, costing the taxpayer over a billion dollars, of the [11] that are left you can't tell me which ones you've visited or haven't visited, what the enrollment projections are, and if they are meeting their enrollment projections--whether they are profitable or not," Rep. Jim Jordan (R., Ohio) said. "That's the kind of stuff we wanted to know in this hearing."


TOPICS: Culture/Society; Government
KEYWORDS: 0bamacare; 0carenightmare; exchanges; healthcare; obamacare; obamacarecoops; obamacareepicfail

1 posted on 02/29/2016 7:02:53 PM PST by Kaslin
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To: Kaslin
Let's take the money directly from the Silicon Valley billionaires, personally. /Sanders mode>

Oh, and screw the "bill of attainder" nonsense. The Constitution is a living, breathing, document. /sarc>

2 posted on 02/29/2016 7:06:23 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Kaslin

Hawaii’s also collapsed and was shut down.


3 posted on 02/29/2016 7:06:56 PM PST by kaehurowing
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4 posted on 02/29/2016 7:13:59 PM PST by DoughtyOne (Facing Trump nomination inevitability, folks are now openly trying to help Hillary destroy him.)
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To: Kaslin

“Mission Accomplished” for Obama.


5 posted on 02/29/2016 7:22:21 PM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day".)
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Folks, if you're reading this, you know what needs to happen.
It doesn't take a big contribution. Pick your comfort level and
please join others to help put the FReepathon to rest. Thank you.

The above note was first presented to you on 02/25 at around 11:00.
The goal shortfall at that time is depicted to you on the left.
The graphic on the right reveals our status as of 02/26 22:30.
We can finish this quickly. Let's do it.

Let's give Jim, his crew, and us a full month to rest up.

Jim, his crew, and every other FReeper thanks you.

6 posted on 02/29/2016 7:24:49 PM PST by DoughtyOne (Facing Trump nomination inevitability, folks are now openly trying to help Hillary destroy him.)
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To: Kaslin

If ONLY some of them had done it correctly, Obamacare would have been a dream come true. Just wait until next time! Then we’ll have the right people in charge.


7 posted on 02/29/2016 8:08:41 PM PST by ProtectOurFreedom
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To: Kaslin
There are few idiots as moronic as academic idiots. Very few. This is their failure, and it was always predictable, particularly because they were the zealots who were allowed to design it. If they were ‘progressive’ and ‘intellectual’ enough to have actually gathered facts from those who had real expertise to provide and who were actually in the tenches taking care of patients, they would have been capable of an outcome better than this. But they were blinded by their own misplaced arrogance.
8 posted on 02/29/2016 8:47:05 PM PST by pieceofthepuzzle
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To: Kaslin

I’ve lost my coverage twice in the two years since I’ve been forced onto Obamacare.

Once was due to the bankruptcy of one his stupid, wasteful co-ops.


9 posted on 02/29/2016 9:05:29 PM PST by PGR88
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To: Kaslin

If all of those co-ops went out of business where do the libyuppies get Arugula now?


10 posted on 02/29/2016 9:44:11 PM PST by TigersEye (This is the age of the death of reason and rule of law. Prepare!)
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