CO-OP Catastrophe: Total Losses Near $1.9 Billion
Only Five of 23 Obamacare CO-OPs Remain in Business
WASHINGTON, DC – Eighteen of the original 23 Obamacare CO-OPs have failed at a total cost to taxpayers of more than $1.8 billion. American taxpayers are seeing red throughout Obamacare, leaving vulnerable patients with fewer places to turn for help.
The latest CO-OP to leave the marketplace is Maryland’s Evergreen Health Cooperative Inc., which announced in the fall that it was looking to become a for-profit provider. Last month, the decision was finalized, meaning only five CO-OPs remain open for business.
“From coast to coast, Obamacare’s CO-OPs are collapsing, forcing more Americans out into the cold realities of Obamacare. My own state has experienced it firsthand – seeing not one but two CO-OPs fail, forcing Oregonians to find health care coverage elsewhere while wasting more than 100 million hard-earned taxpayer dollars,” said Energy and Commerce Committee Chairman Greg Walden (R-OR). “House Republicans have a Better Way and we are dedicated to cleaning up the mess created by Obamacare.”
CO-OPs that have failed and taxpayer dollars received (in order by closing announcement):
CoOportunity Health – Iowa and Nebraska
Louisiana Health Cooperative, Inc.
Nevada Health Cooperative
Health Republic Insurance of New York
Kentucky Health Care Cooperative – Kentucky and West Virginia
Community Health Alliance Mutual Insurance Company – Tennessee
Health Republic Insurance of Oregon
Consumers’ Choice Health Insurance Company – South Carolina
Arches Mutual Insurance Company – Utah
Meritus Health Partners – Arizona
Consumers Mutual Insurance – Michigan
InHealth Mutual – Ohio
HealthyCT – Connecticut
Oregon Health’s CO-OP – Oregon
Land of Lincoln Health – Illinois
Health Republic Insurance of New Jersey
Evergreen Health Cooperative Inc. – Maryland
TOTAL TAXPAYER DOLLARS:$1,885,565,840
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.