Almost Every Obamacare Co-op Losing Money

[Stephanie]

oh yea, something to celebrate. thank you oh dear wonderful leader, Obama. Trillions of our tax dollars down the toilet.

SNIP:

Almost Every Obamacare Co-op Losing Money
21 out of 23 lost money, owe $2.4 billion in federal loans
7.31.2015


watchdog report, almost all of the Obamacare "co-op" health insurers are losing money, a fact that threatens to leave a large portion of their $2.4 billion in federal loans unpaid.

Under the increasingly ironically-named Affordable Care Act, the government gave start-up loans to nonprofit co-ops that were intended to be sustainable in the healthcare market. As it turns out, not so much.

The report, released Thursday, found that 21 of the 23 co-ops nationwide were hemorrhaging money, with only one actually making a profit. Additionally, enrollment for 13 of the co-ops is below projections (nine are ahead, but all but two of those still behind financially).

The report warns that the "low enrollments and net losses" of most of the insurers—including Kentucky's, which lost a stunning $50 million—is making it increasingly unlikely that they will be able to repay all of the $2.4 billion in federal loans, leaving taxpayers on the hook.

Along with Kentucky's abysmal numbers, Arizona’s co-op only managed to enroll 869 people. It's goal was 24,000. Several co-ops have already been shut down due to financial struggles, including those in Louisiana, Iowa, and Nebraska.

As The Hill reports, Obama administration officials are trying to put an optimistic spin on the disconcerting (though far from unexpected) news.

all of it here:
Almost Every Obamacare Co-op Losing Money Truth Revolt

 

[Sonny Clark]

oh yea, something to celebrate. thank you oh dear wonderful leader, Obama. Trillions of our tax dollars down the toilet.

SNIP:

Almost Every Obamacare Co-op Losing Money
21 out of 23 lost money, owe $2.4 billion in federal loans
7.31.2015


watchdog report, almost all of the Obamacare "co-op" health insurers are losing money, a fact that threatens to leave a large portion of their $2.4 billion in federal loans unpaid.

Under the increasingly ironically-named Affordable Care Act, the government gave start-up loans to nonprofit co-ops that were intended to be sustainable in the healthcare market. As it turns out, not so much.

The report, released Thursday, found that 21 of the 23 co-ops nationwide were hemorrhaging money, with only one actually making a profit. Additionally, enrollment for 13 of the co-ops is below projections (nine are ahead, but all but two of those still behind financially).

The report warns that the "low enrollments and net losses" of most of the insurers—including Kentucky's, which lost a stunning $50 million—is making it increasingly unlikely that they will be able to repay all of the $2.4 billion in federal loans, leaving taxpayers on the hook.

Along with Kentucky's abysmal numbers, Arizona’s co-op only managed to enroll 869 people. It's goal was 24,000. Several co-ops have already been shut down due to financial struggles, including those in Louisiana, Iowa, and Nebraska.

As The Hill reports, Obama administration officials are trying to put an optimistic spin on the disconcerting (though far from unexpected) news.

all of it here:
Almost Every Obamacare Co-op Losing Money Truth Revolt

 

[Stephanie]

oh yea, something to celebrate. thank you oh dear wonderful leader, Obama. Trillions of our tax dollars down the toilet.

SNIP:

Almost Every Obamacare Co-op Losing Money
21 out of 23 lost money, owe $2.4 billion in federal loans
7.31.2015


watchdog report, almost all of the Obamacare "co-op" health insurers are losing money, a fact that threatens to leave a large portion of their $2.4 billion in federal loans unpaid.

Under the increasingly ironically-named Affordable Care Act, the government gave start-up loans to nonprofit co-ops that were intended to be sustainable in the healthcare market. As it turns out, not so much.

The report, released Thursday, found that 21 of the 23 co-ops nationwide were hemorrhaging money, with only one actually making a profit. Additionally, enrollment for 13 of the co-ops is below projections (nine are ahead, but all but two of those still behind financially).

The report warns that the "low enrollments and net losses" of most of the insurers—including Kentucky's, which lost a stunning $50 million—is making it increasingly unlikely that they will be able to repay all of the $2.4 billion in federal loans, leaving taxpayers on the hook.

Along with Kentucky's abysmal numbers, Arizona’s co-op only managed to enroll 869 people. It's goal was 24,000. Several co-ops have already been shut down due to financial struggles, including those in Louisiana, Iowa, and Nebraska.

As The Hill reports, Obama administration officials are trying to put an optimistic spin on the disconcerting (though far from unexpected) news.

all of it here:
Almost Every Obamacare Co-op Losing Money Truth Revolt

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more like this:

 

[B. Kidd]

Sticker shock on premiums is coming for 2016 as state insurance regulators have until August to approve, deny, or limit rate increase requests by insurance companies. Also, the 'risk corridor' bailout program that's supposed to cover insurers' losses ends, so that will be built into the rate increase requests. Also, the employer mandate for companies having between 50 and 100 workers takes effect in 2016 which is expected to adversely impact job creation by raising company costs.
In an election year, expect ACA to be back on the front burner again as an issue.

 

[depotoo]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

 

[B. Kidd]

In an election year, good news for Repubs, as the worst is yet to come concerning the ACA real life consequences.

 

[depotoo]

We were hit between the eyes with husband's company renewal. Much, much more out of pocket and less freedom to choose.

In an election year, good news for Repubs, as the worst is yet to come concerning the ACA real life consequences.

 

[B. Kidd]

We were hit between the eyes with husband's company renewal. Much, much more out of pocket and less freedom to choose.

In an election year, good news for Repubs, as the worst is yet to come concerning the ACA real life consequences.

Sorry to hear that. More punishment on the way.

 

[Stephanie]

Sticker shock on premiums is coming for 2016 as state insurance regulators have until August to approve, deny, or limit rate increase requests by insurance companies. Also, the 'risk corridor' bailout program that's supposed to cover insurers' losses ends, so that will be built into the rate increase requests. Also, the employer mandate for companies having between 50 and 100 workers takes effect in 2016 which is expected to adversely impact job creation by raising company costs.
In an election year, expect ACA to be back on the front burner again as an issue.

oh YEAH. they haven't seen anything yet. He (being the DICKtator) put off all of this until after the elections or until he's GONE. that's what I call a: snake

 

[Windship]

I would rather pay money to the gov for healthcare then to have a company profiting off of my bad health with that money going into some ceo's pocket and shareholders pockets. To me, there is something inherently wrong about profiting from some ones bad health. Its not about losing money, its about healthcare.

 

[Grizz]

I would rather pay money to the gov for healthcare then to have a company profiting off of my bad health with that money going into some ceo's pocket and shareholders pockets. To me, there is something inherently wrong about profiting from some ones bad health. Its not about losing money, its about healthcare.

Ummmmm, they do not profit from the "sick one's", they profit from the ones who don't use the coverage.

 

[Sun Devil 92]

I would rather pay money to the gov for healthcare then to have a company profiting off of my bad health with that money going into some ceo's pocket and shareholders pockets. To me, there is something inherently wrong about profiting from some ones bad health. Its not about losing money, its about healthcare.

Then it would be just as inherently wrong for people to not take care of themselves.

If you want to go at that level.....have a good time.

 

[BlueGin]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

 

[BlueGin]

I would rather pay money to the gov for healthcare then to have a company profiting off of my bad health with that money going into some ceo's pocket and shareholders pockets. To me, there is something inherently wrong about profiting from some ones bad health. Its not about losing money, its about healthcare.

That's where it goes in the gov too. To the folks running the ACA that make three figures.

 

[Sun Devil 92]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

Can you give a link please.

 

[Arianrhod]

It's amazing how many people understand life insurance, motor vehicle insurance, essentially any form of insurance EXCEPT health insurance are so mystified by health insurance. The only logical conclusion is that someone else has been paying for them all this time and so they've never had to learn.

 

[BlueGin]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

Can you give a link please.

I will look around. I just learned about this in a conf this week. They usually do sent us media updates daily though ...so I'll see what I can find and post it.

 

[Arianrhod]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

Can you give a link please.

I will look around. I just learned about this in a conf this week. They usually do sent us media updates daily though ...so I'll see what I can find and post it.

And make sure you declare what's more important to you, that more Americans have access to health insurance , or "Neener, neener, third-graders are WINNNN!"

 

[Kosh]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

Can you give a link please.

I will look around. I just learned about this in a conf this week. They usually do sent us media updates daily though ...so I'll see what I can find and post it.

And make sure you declare what's more important to you, that more Americans have access to health insurance , or "Neener, neener, third-graders are WINNNN!"

This from a far left drone that has not posted one fact, juts the same old debunked far left religious dogma!

 

[BlueGin]

No need to worry. They were assured their shortfalls would be backed up by the fed govt.

Were. Medicare is refusing to split costs with the insurance companies now. It has caused hiring freezes in the industry recently.

Can you give a link please.

I will look around. I just learned about this in a conf this week. They usually do sent us media updates daily though ...so I'll see what I can find and post it.

And make sure you declare what's more important to you, that more Americans have access to health insurance , or "Neener, neener, third-graders are WINNNN!"

Maybe next time you can post in English. I don't speak left loon.