Almost Every Obamacare Co-op Losing Money

Now we see another apparent broken segment of the ACA debacle.

This one is some kind of "co-op" loan set up that seems to be yielding unpaid loans from the government.

Taxpayers on the hook one more time.

Never heard much about this money funnel, but it might be some kind of competition for established health insurance companies.

People getting rich and others getting clubbed.


Almost Every Obamacare Co-op Losing Money

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).

Google: "" Obamacare Co-op "" ....for the horror.

Consumer complaints swirl around Obamacare's flagship health co-op in New York

Does anybody have any experience with this?

wonder how much of the "start up loans" went to the salaries of the administrators of these co ops.

This doesn't surprise me one bit. More of Obama's paybacks to his Union Buddies and more taxpayer funds granted to his friends' non-profits? (And we all know how "non-profit Non-Profits are, don't we?!)

The one in New York, Health Republic, is run by Sara Horowitz. Remember her name. You will hear more of her when Obama starts sucking up Government Grant money for his Obama Foundation going into full swing in Jan. 2017, imo.

Thank You, Taxpayers! Another social experiment to suck you dry.

In all, Horowitz has received nearly $345 million in federally backed loans, making her the largest single recipient of Obamacare co-op loans.

And yet we have another "Solyndra Cash-for-Clunkers" social purpose business/non-profit that uses OUR money to line their own pockets. People, Not Profits??? Yeah, right.

Meet the Board of Directors for them....some of the guys YOU are paying for. Note the connections and take special note of all that grant money they are receiving. Grant money = Your hard-earned taxes

www.healthrepublicinsurance.org...

I love how everything is wrapped up in syrupy language that makes us think how hard everybody is working for us, the taxpayer, i.e. "a passion for listening to the voice of the general citizen who is challenged to make sense of the future of health insurance." LOL!

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.....

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.....

So true. So many people think that when something is called 'non-profit', they aren't allowed to make profits. This is a bit of a misnomer because they ARE allowed to pay themselves, pay expenses (including travel), and other sundry things....and just think of all the "sundry things" you could come up with to suck more taxpayer money for your lifestyle.