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According to a Health Department 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).
In all, Horowitz has received nearly $345 million in federally backed loans, making her the largest single recipient of Obamacare co-op loans.
originally posted by: dawnstar
a reply to: queenofswords
they are non-profits, they aren't depending on any income coming in from their ventures, they are counting on the gov't giving them more and more of our money.....