Another Obamacare co-op, the largest, collapses

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Finding out what’s in it: New York’s Obamacare co-op, the country’s largest and the one that took the most government loans to get established, is now facing bankruptcy and collapse.

It is unclear if the co-op deliberately misled state regulators in its original filings, or if regulators found evidence of financial wrongdoing while they tried to close down the defunct non-profit. The co-op’s insolvency was announced September 25.

The New York Department of Financial Services, which regulates insurers in the Empire State, also revised its earlier announcement to the co-op’s 215,000 policyholders that they had until Dec. 30 to find new insurance coverage. Regulators now advise the co-op’s enrollees, many who are poor, that they have to secure new coverage within the next two weeks. DFS said in a statement late Friday that consumers “must take action to choose a new plan for the remainder of 2015 on or before November 15, 2015.”

It also appears that the co-op has been understating its bad financial condition to government officials. Other than that, things remain peachy-keen!


  • pzatchok

    I have a question.

    Why are the liberal idiots who wanted this asking for more money to finance the new system?

    Are the co-ops not needed?
    Do they have another source of funding?

    Or are they planning on blaming homelessness and the lack of insurance all on the republicans after the next election?

    I have personally not seen homeless people begging for donations in my town. Ever. Even in the 70’s when the mills closed and thousands lost jobs. But I am seeing it now all overt the place.

    Expect it to be a big deal in the MSM if a republican gets elected.

    Democrats spend like children on their favorite social programs(that don’t work) then stand beck and let their parents(republicans) come in and clean up the financial mess and take the blame for the short comings.

  • Cotour


    This story has nothing to do with Obamacare directly but it does illustrate the kind of thinking that is being poured down the throats of some of the gullible public by the agenda driven media corporations and the people who they choose to represent their perverted agenda, of which Obamacare is a shinning example.

    This woman, Melisa Harris Perry, who works for the MSNBC network is perhaps at the top of her field, what is her field? Apparently race hustling and using the non sequitur in her job as racist spokes person as a weapon to promote race hustling. She seems an intelligent person but her inability to properly recognize the abuses of power in Americas PAST and put them in proper modern context is very offensive to me.

    Watch this clip and if anyone can reasonably justify how this woman gets to where she gets please share it with me.

  • MikeP

    It’s much worse than social programs not working. They exacerbate the very problems they claim to remedy (which is the point since that increases the size of the democrat base).

    The solution to poverty will never be to pay people to be poor, how ever and in whatever form that payment is made.

  • pzatchok

    “Why are the liberal idiots who wanted this asking for more money to finance the new system?”

    Should have been

    “Why are the liberal idiots who wanted this, not asking for more money to finance the new system?

  • MikeP

    This is the one good thing the republicans have done. They passed legislation to prevent more funds being directed that way and that’s what’s doomed the co-ops.

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