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Economy
Obamacare insurance entity goes into receivership
2014-12-29
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, according to a statement from his office. While Gerhart’s agency will operate the company for the time being, it’s urging policyholders to seek a new insurer.
Will they get their money back, or is that a sunk cost for people who probably can't afford it?
Paying money to an insurance company is like paying taxes. It's gone. Forever.
CoOportunity Health is a co-op, or Consumer Operated and Oriented Plan, one of 23 nonprofit health insurers providing coverage in 26 states. They were created under the Patient Protection and Affordable Care Act to increase competition. The fate of CoOportunity provides new fodder for Obamacare opponents who argue that the law wastes government money.
Posted by:badanov

#10  Maybe we'll come to a day where neurosurgeons will offer "the works" for the same price as a dental crown.
Posted by: Anguper Hupomosing9418    2014-12-29 16:03  

#9  nonprofit should have been your firs clue
Posted by: jack   2014-12-29 15:36  

#8  I don'the know how malingerers became meanwhile, erstwhile...
Posted by: regular joe   2014-12-29 15:08  

#7  If the making erstwhile want single payer so bad, they should just join the military and get themselves some VA care.
Posted by: regular joe   2014-12-29 15:06  

#6  Doctor shortages are always caused by doctors guilds.

It's for the patients lol.
Posted by: Bright Pebbles   2014-12-29 12:39  

#5  There was a 150,000 doctor shortage before Obamacare was passed. Doctor shortage. 40% of the physicians said in a poll that they anticipated retiring or leaving the profession in 3 years. IMO a government run healthcare system destroys physician incentives.

Insurance entity goes into receivership? I worry that the government will go into receivership as the result of Obamacare. According to the Heritage Foundation, Medicare will be cut by $716B due to Obamacare. Cuts in Medicare. Obama calls it redistribution of income and social justice despite that seniors have worked their entire lives and paid into Medicare. Seniors still pay into Medicare. It is taken out of Social Security every month.
Posted by: JohnQC   2014-12-29 10:31  

#4  ..just follow the NHS model, open borders to thousands of Indian, Pakistani, et al doctors. "Doing the jobs Americans won't" /sarc off
Posted by: Procopius2k   2014-12-29 08:55  

#3  Given the increasing shortage of doctors accepting Medicare and Medicaid, moving to single payor might prove objectionable, however desirable the planners might find that goal.
Posted by: trailing wife   2014-12-29 01:02  

#2  Single payer is the ultimate goal.
Posted by: DarthVader   2014-12-29 00:20  

#1  All is proceeding as Obama's planned forseen...
Posted by: Raj   2014-12-29 00:13  

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