WASHINGTON, DC - The state of Arizona on Friday announced that its CO-OP would shutter in 2016, bringing the total to 11 out of the original Obamacare 23 CO-OPs that will be out of operation in 2016 at a total cost to taxpayers of $1.1 billion. On Thursday, November 5, 2015, the Subcommittee on Oversight and Investigations will hold a hearing on “Examining the Costly Failures of Obamacare’s CO-OP Insurance Loans."
“Arizona’s failure is just the latest Obamacare fright," said Energy and Commerce Committee Chairman Fred Upton (R-MI). “With 11 of 23 CO-OPS shutting down, the cost now tops $1.1 billion - a nasty Halloween trick for taxpayers."
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
Arches Mutual Insurance Company - Utah
Cost: $89,650,303
Meritus Health Partners - Arizona
Cost: $93,313,233
TOTAL TAXPAYER DOLLARS : $1,100,488,006
Note: This total does not include Vermont’s CO-OP, which was denied an insurance license by the state, and was dissolved before enrolling a single person. Related Items
* Examining the Costly Failures of Obamacare’s CO-OP Insurance Loans
