WASHINGTON, DC - The state of Connecticut announced today that its CO-OP would shutter, forcing its approximately 40,000 participants to find new coverage. The announcement makes 14 out of the original 23 Obamacare CO-OPs that have closed its doors at a total cost to taxpayers of nearly $1.5 billion. The closures come at an increasingly rapid rate - 11 of the CO-OPs have collapsed since last September.
“And then there were nine…," said full committee Chairman Fred Upton (R-MI). “With Connecticut’s collapse, the administration’s failures are closing in on a $1.5 billion hole for taxpayers. With a meager 9 CO-OPs struggling to survive, we continue to ask the administration when this mess will end and at what cost?"
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: $146,494,772
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
Consumers Mutual Insurance - Michigan
Cost: $71,534,300
InHealth Mutual - Ohio
Cost: $129,225,604
HealthyCT - Connecticut
Cost: $127,980,768
TOTAL TAXPAYER DOLLARS : $1,494,228,678
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.
