ObamaCare Co-Op Update: Another One Bites the Dust

Yet another ObamaCare co-op insurance provider has failed, this time in Ohio.  The failure of the Buckeye State's InHealth Mutual marks the 13th co-op failure since the beginning of 2015.  That means more than half of the 23 co-op plans created under ObamaCare have crashed and burned.

The Washington Examiner reports:

InHealth Mutual in Ohio will shut down and will force more than 20,000 people to choose new plans. They will have 60 days to find a new plan. Ohio's insurance regulator said Thursday that it had to take control of the co-op because of major losses.

The Ohio co-op is the first one this year to close. Last year, 12 of the 23 taxpayer-funded plans shut down due to mounting financial losses and a lack of federal funding.

Including InHealth, the federal government has spent $1.3 billion to set up the co-ops, which were created to offer more competition on Obamacare's exchanges.

That's 20,000 more people who can't keep their health care plan, even if they like it.

That's 20,000 more people who are now forced to search out new health care plans in the middle of the year, after they had already selected one. 

And they might find securing another affordable plan a tough task.  After all, this co-op failure comes against the backdrop of major insurance providers like UnitedHealthcare abandoning ObamaCare exchanges across the country, and of other insurance providers requesting double-digit rate increases in premium costs.

Has ObamaCare cancelled your heath plan?  Have you lost your doctor?  Have you seen the cost of your premium spike?  If so, we want to hear from you.  Visit BrokenObamaCarePromises.com today.  Share your story by emailing us at mystory@brokenobamacarepromises.com.  Pictures and/or video testimonials are encouraged.

 

Go Back