The 8 Obamacare Co-Ops Most Likely To Fail This Year

Daily Caller ^ | 04/10/16 | richard-pollock

[EVO X]

Eight of the 11 remaining Obamacare health insurance co-ops appear likely to fail this year, according to an analysis of financial documents obtained by The Daily Caller News Foundation.

Twelve of the original 23 federally-financed co-ops have already collapsed. The co-op program was funded with $2.5 billion in 2010.

“In general, there’s not a turnaround in sight. The same problems that plagued them before are continuing,” Thomas P. Miller, senior fellow at the American Enterprise Institute who previously served as the senior health economist for the congressional Joint Economic Committee, told TheDCNF.

[EVO X]

Doesn't look good for the remaining Obamacare CO-OPS

[Does so]

Grubered.

[gloryblaze]

...All eight burned through about 50 percent of their total assets in 2015. The assets were supposed to last for 20 years under the terms of the federal funding program...

Pure madness.

[EVO X]

I live in Illinois. I don’t hear much about the status of the Lincoln Land CO-OP. According to past articles, they capped enrollment and increased rates during the last ACA enrollment period.

[gloryblaze]

I’m afraid it is running on fumes:

http://www.chicagobusiness.com/article/20160130/ISSUE01/301309989/losses-threaten-obamacare-co-op

[EVO X]

Thanks for the link. BCBS has been trimming doctor networks in the state as well..

[goodnesswins]

Oregon of course

[Chickensoup]

we evidently will be begging for socialized medicine.

Why don’t we all beg for a non crony competitive market based honest system instead?

[EVO X]

Why don’t we all beg for a non crony competitive market based honest system instead?

Most people stick with what they know. A majority of working age Americans get coverage through their employer and aren't eager for change. They may grumble about increased premiums and copays, but just shrug it off. The private insurance market is relatively small at around 24M. Half are paying full fare and the other half are heavily subsidized. So it comes down to about 12M Americans or so that are angry enough to want change. The people getting the shaft are out numbered by something like 20 to 1..