40,000 Oregonians to Lose Their Plans
Comment: A blind man could’ve seen this coming. We sure did.
“WASHINGTON, DC – Oregon’s Department of Consumer and Business Services announced Friday evening that Oregon’s Health CO-OP would shutter, forcing its approximately 40,000 participants to find new coverage. This is the second CO-OP in Oregon to fail as Health Republic Insurance of Oregon closed last year. The announcement means that 15 out of the original 23 Obamacare CO-OPs have closed their doors at a total cost to taxpayers of over $1.5 billion. The closures have come at an increasingly rapid rate – 12 of the CO-OPs have collapsed since last September, with Connecticut closing last week.”
Oregon’s Health Co-op Shuts Its Doors As Taxpayer Losses Surpass $1.5B
July 12, 2016
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THE OCTS CO-OP “HONOR” ROLL: Failed CO-OPs (from same source, in order by closing announcement):
- CoOportunity Health – Iowa and Nebraska, Cost: $145,312,100
- Louisiana Health Cooperative, Inc., Cost: $65,790,660
- Nevada Health Cooperative, Cost: $65,925,396
- Health Republic Insurance of New York, Cost: $265,133,000
- Kentucky Health Care Cooperative – Kentucky and West Virginia, Cost: $146,494,772
- Community Health Alliance Mutual Insurance Company – Tennessee, Cost: $73,306,700
- Colorado HealthOp, Cost: $72,335,129
- Health Republic Insurance of Oregon, Cost: $60,648,505
- Consumers’ Choice Health Insurance Company – South Carolina, Cost: $87,578,208
- Arches Mutual Insurance Company – Utah, Cost: $89,650,303
- Meritus Health Partners – Arizona, Cost: $93,313,233
- Consumers Mutual Insurance – Michigan, Cost: $71,534,300
- InHealth Mutual – Ohio, Cost: $129,225,604
- HealthyCT – Connecticut, Cost: $127,980,768
- Oregon Health’s CO-OP – Oregon, Cost: $56,656,900
TOTAL TAXPAYER DOLLARS: $1,550,885,578
(Note: This total does not include Vermont’s CO-OP, which was denied an insurance license by the state, and was dissolved before enrolling a single person.)