WASHINGTON, DC - The news keeps getting worse for taxpayers on the hook for the Obamacare CO-OP mess. The Illinois Department of Insurance announced yesterday evening that Land of Lincoln Health would shutter, forcing its nearly 50,000 participants to find new coverage. Illinois brings the total to 16 of the original 23 Obamacare CO-OPs that have failed, at a total cost to taxpayers of over $1.7 billion. The closures have come at an increasingly rapid rate - 13 of the CO-OPs have collapsed since last September, with Connecticut and a second Oregon CO-OP closing last week.
“Three CO-OPs have gone belly up in the span of a week at a cost of $340 million and yet it’s business as usual for the Obama administration. Where is the urgency? The taxpayer’s tab for the CO-OP calamity is now at $1.7 billion and counting. Good grief," said Energy and Commerce Committee Chairman Fred Upton (R-MI).
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
Oregon Health’s CO-OP - Oregon
Cost: $56,656,900
Land of Lincoln Health - Illinois
Cost: $160,154,812
TOTAL TAXPAYER DOLLARS : $1,711,040,390
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.
