As More Co-Op Insurers Fail, Consumers Face More Limited Health Care Options
With a third of these cooperatives announcing they will be shuttering in recent weeks, thousands are left scrambling to find alternative health insurance for next year. The collapse of one of those, Kentucky Health Cooperative, is now also playing a role in the hotly contested governor race that will be decided in a few weeks.
The New York Times:
Health Care Co-Op Closings Narrow Consumers’ Choices
The grim announcements keep coming, picking up pace in recent weeks. About a third, or eight, alternative health insurers created under President Obama’s health care law to spur competition that might have made coverage less expensive for consumers are shutting down. The three largest are among that number. Only 14 of the so-called cooperatives are still standing, some precariously. (Abelson and Goodnough, 10/25)
Collapse Of Kentucky Co-Op Could Be Wildcard In Governor's Race
The sudden collapse of nonprofit health plans supported by tens of millions of dollars in Obamacare loans is igniting a new political wildfire over the health law — and it’s playing out in a tight gubernatorial race in Kentucky. The recent demise of Kentucky Health Cooperative, a nonprofit startup seeded with federal loan dollars under the Affordable Care Act, is part of a bigger, national trend. More than a third of the 23 nonprofit health plans created under Obamacare with $2.4 billion in federal loan dollars have collapsed, and most experts predict more failures on the horizon. Late last week, South Carolina’s co-op became the ninth to fail, following similar crashes in Iowa, Louisiana, Nebraska and New York. (Demko, 10/26)