Another Obamacare co-op fails

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Finding out what’s in it: Ohio’s Obamacare co-op announced this week that it is shutting down, making it the 13 of 23 co-ops to fail.

The company recorded an underwriting loss of $80 million in 2015 despite the $129 million in taxpayer-backed loans granted to the co-op by the federal government. InHealth Mutual was also placed under “enhanced oversight,” one of three tools the Department of Health and Human Services has to monitor co-ops in financial distress. When a co-op is placed under enhanced oversight, it means the company is consistently underperforming and allows the department to give detailed and more frequent reviews of the loan recipient’s operations and financial status. According to Columbus Business First, medical claims were coming in at a rate of $3 million per week and the company would have had to raise premiums by 60 percent in 2017 to keep up. If InHealth Mutual were to stay in business through the end of 2016, projections show that the company would have posted losses of $20 million.

Ohio’s failed co-op is added to the list of 12 co-ops that have already failed in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina, and a co-op that served both Iowa and Nebraska. [emphasis mine]

Gee, it sure would have been helpful if, before Obamacare was shoved down our throats by Obama and the Democratic Party, there had been someone to point out that this Obamacare co-op model could not work financially and was bound to fail. Oh wait! Wasn’t that exactly what every conservative pundit and politician was saying back in 2010?

Obviously, this all means we must vote Democratic again, as they are the only ones who really know what must be done!



  • Cotour

    I just listened to the president giving a speech where stated without any ambiguity “by every measure all Americans are better off during my presidency”.

    A dopey “liberal” friend of mine says to me the other day “Barack Obama is in time going to be considered one of thee best presidents in American history!”. (Oh he is having one big and juicy bromance with Obama, “he is soo intelligent, you have to listen to his speeches”)

    I say that when the president leaves office and the people of America in time come to understand the things that he has done in secret and against American interests they will want him arrested for treason!

  • This was the plan all along. Let it collapse and then go to single payer. 0bomber said at the time that he couldn’t get single payer right away.

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