WASHINGTON, DC - News continues to get worse for the president’s health law as South Carolina’s co-op announced that it would shutter in 2016. South Carolina’s closure brings the total to nine out of the original 23 co-ops that will be out of operation in 2016, bringing the total cost to taxpayers to $917,524,470. South Carolina’s news comes on the heels of co-ops in Tennessee, Colorado, and Oregon announcing that they too would close.
“Just when you think the news can’t get any worse, it does. South Carolina now makes nine failures to the tune of nearly $1 billion for taxpayers. The Obamacare mess continues," said Energy and Commerce Committee Vice Chairman Marsha Blackburn.
Co-ops that have failed and taxpayer dollars received (in order by closing announcement):
CoOportunity Health - Iowa and Nebraska
Cost: $145,312,100
Louisiana Health Cooperative, Inc.
Cost: $65,790,660
Nevada Health Cooperative
Cost: $65,925,396
Health Republic Insurance of New York
Cost: $265,133,000
Kentucky Health Care Cooperative - Kentucky and West Virginia
Cost: $81,494,772
Community Health Alliance Mutual Insurance Company - Tennessee
Cost: $73,306,700
Colorado HealthOp
Cost: $72,335,129
Health Republic Insurance of Oregon
Cost: $60,648,505
Consumers’ Choice Health Insurance Company - South Carolina
Cost: $87,578,208
TOTAL TAXPAYER DOLLARS : $917,524,470
