HHS
awarded $2.4 billion in federal funds to 23 nonprofit health insurance co-ops
even as the financial picture grew grimmer.
The
co-op in New York State was the largest to go down, along with
non-profit groups in Arizona, Colorado, Iowa, Nebraska, Louisiana, Nevada, Kentucky, West Virginia, Tennessee,
Oregon, South Carolina,
Utah and Michigan.
Administration Officials Knew Obamacare
Co-ops Were Failing in 2012
The Fiscal Times By Eric Pianin March
11, 2016
A new report by a Senate investigative panel offers a
scathing assessment of the Obama administrations handling of nearly two dozen
non-profit insurance plans created under the Affordable Care Act that led to
the shuttering of half of the organizations and the loss of more than $1
billion of federal loans and startup funds.
The report, released on Thursday by Sen. Rob Portman (R-OH),
found that officials at the Department of Health and Human Services ignored
numerous warnings in 2012 and 2014 from Deloitte Consulting LLP, an independent
accounting firm retained by HHS. The consulting firms concluded that most of
the 23 insurance co-ops were poorly conceived, structured and managed, and that
many of them were headed for financial disaster without significant
improvements.
Continue reading at http://www.thefiscaltimes.com/2016/03/11/Administration-Officials-Knew-Obamacare-Co-ops-Were-Failing-2012
Related: Nearly Half of Obamacare
Co-Ops Are Closing
Related: Obamacare Gap Traps
Millions With Coverage Who Can’t Afford Care
Related: GOP Faults Obama and the ACA for Failure of
Healthcare Co-ops
ObamaCare co-ops at risk of failing after billions in loans
Home Policy Healthcare
Thehill.com By Peter
Sullivan Oct 2015
The future of an ObamaCare program
that was intended to create non-profit insurers is increasingly in doubt, with
several of the ventures forced to close down around the country.
On Friday co-op insurance plans in Colorado
and Oregon became the latest to call it quits,
following the closure of similar plans this month in Tennessee,
Kentucky and New York.
Just 15 of the original 23 co-ops remain in operation, and
the administration acknowledges that more of them could fail, potentially
leaving a strike against President Obamas signature law.
Continue reading at http://thehill.com/policy/healthcare/257220-obamacare-co-ops-at-risk-of-failing-after-24b-in-federal-loans