• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Obamacare insurance company out of money!

Steve

Well-known member
even after a $145 million handout.. it is still out of money..

Insurer That Got $145 Million Loan Under Obamacare Is Almost Broke

A startup insurance company loaned $145 million by the U.S. government under Obamacare is running out of money and being taken over by state officials in Iowa.

The company, CoOportunity Health, which also serves Nebraska, was placed under Iowa Insurance Commissioner Nick Gerhart’s supervision this week and is no longer accepting new enrollees.

‘Financially Hazardous’

CoOportunity’s lack of additional solvency funding places it in a financially hazardous condition,” the petition said.

Representative Darrell Issa, the California Republican who heads the U.S. House oversight committee, predicted last year that five co-ops that received $2 billion in loans under Obamacare wouldn’t survive because of financial or regulatory shortcomings. CoOpportunity didn’t make his list, though a co-op in Vermont did, and it never got off the ground after CMS pulled its funds.

People who enrolled in CoOportunity on or before Dec. 15 will still have insurance, and anyone who enrolled after will need to choose a new plan by the end of open enrollment Feb. 15, according to Iowa’s Insurance Division.

“Most policyholders may find it in their best interests to find other coverage."
http://www.bloomberg.com/news/2014-12-26/obamacare-aided-insurer-almost-broke-after-145m-in-loans.html

well there goes another few billion of so... :?


heck,.. under Obama care you can't even keep you obamacare insurance...
 

Latest posts

Top