Friday, October 16, 2015

Colorado Closing Bankrupt ObamaCare Co-Op

by JASmius

Tennessee's and Kentucky's flat-lined just forty-eight hours ago.  And now the Centennial State's O-Care coop makes seven, with sixteen still to go:

BREAKING: The largest insurer on Colorado's health insurance exchange, @COHealthOP, collapses, becoming nation's [seventh] failed UCA co-op

This but a day after Colorado HealthOP was blowing smoke up its now uninsured "customers'" bloomers:

We’re thrilled to report the CO-OP is exceeding budget projections and is on track to start paying down our federal loans.

We also have three viable financing options to ensure we have the capital reserves to meet our regulatory requirements. One option includes reinsurance financing. Another is receiving capital support from another successful CO-OP. And finally, we are talking with a private investor.

We’re working hard to ensure that we’re here to stay. #believeit [emphasis added]

At least this latest failed "subsidized marketplace" "only" took $72 million to fiscal Gre'thor with it.

In other ObamaCare news, Utah is balking at expanding Medicaid.  Beats me what took them so long.

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