The co-op health insurance plans created under ObamaCare were supposed to serve as a non-profit challenger to traditional health insurance companies, providing another option for people looking to purchase health insurance.
In reality, they've been an unmitigated disaster. Only four of the 24 co-op plans still remain active:
Only four of the original 24 ObamaCare health co-ops remain standing after Maryland’s co-op announced Dec. 8 it was suspending the sale of individual health insurance policies, the Daily Caller News Foundation Investigative Group has found.
With the near-collapse of Maryland’s co-op — called Evergreen Health — at least 989,000 individuals nationwide have lost their health insurance coverage when the nonprofit co-ops stopped selling insurance to customers, according to TheDCNF’s tally.
The losses cost taxpayers at least $2.2 billion in upfront federal loans awarded by the Obama administration to 24 nonprofit co-ops under ObamaCare. The co-ops were intended to help keep health care costs down by providing non-profit competition with commercial for-profit insurers.
What a disaster. And just another reminder of how ObamaCare has failed and left millions of Americans struggling to find insurance that meets their needs and their budgets.
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