Almost Every Obamacare Co-op Losing Money

They are also cutting a bunch of senior benefits ( go figure). One of which is nursing home care. I will find the article.
 
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

nice...unsubstantiated garbage from some rightwingnut blot ...

you go steffie.
 
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

This is hilarious. People worried about healthcare costing too much money.

Except half of the money you pay into healthcare goes to lining someone's pocket in corruption or almost corruption.

Insurance companies take their slice, then hospitals take their slice, then doctors take their slice by doing the bidding of Pharma companies who are making an absolute fortune because the US is paying 10 times (or more) for the same drug other countries are using.

And you're telling me there's a problem with Obamacare huh?
 

This whole approach is not treating health care as a business that needs to break even or make money.
It is treating health care as a operating cost, and trying to cover as many people as possible where govt IS SUPPOSED TO pay money out, ie NOT make money. The investment in public health is cheaper in the longrun.

The liberals EXPECT it to run in the red, because the point is to put all resources into services, not profits.
The point is the cost of health care is expected to be greater than people can pay,
so this model is trying to shift that cost back to consumers to pay for their care by using insurance
and trying to cut the costs of abusing ER for health care.

There is still going to be
* more demand than what services providers, insurance, and people can cover
* more costs of health care than money saved by trying to do it this way

People are better off setting up their own networks, group discounts, and credit/microlending system
to manage their own resources without relying on govt that has been blocked by partisan attacks on all sides.
 

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