Sunday, March 20, 2016

More Losses Ahead for Obamacare’s Troubled CO-OPs

Here is a link to an article by Charles Hughes of the CATO Institute.  The article describes the continuing failure of Obamacare to accomplish what Obama and his ilk promised.

A snippet.

Twelve of the 23 Obamacare health cooperatives (CO-OPs) have shut down already. 627,000 people were enrolled in CO-OPs that ceased operations, and the federal government had disbursed more than $1.2 billion to these CO-OPs, and it might be difficult to ever recover any of these taxpayer funds. A GAO report released this week reveals that the CO-OP losses could be far from over.

Obamacare’s CO-OPs were a misguided idea from their inception, and they were criticized by everyone from Cato scholars to ardent supporters of Obamacare when they were initially being discussed. These CO-OPs had no infrastructure, no meaningful way to controls costs, and were in real danger of not being able to attain sufficient enrollment numbers to become financially viable. Their inclusion in Obamacare is another triumph of politics and intentions over rational analysis. Hundreds of thousands of people have already had to pay the price for this choice, and thousands more could join them in the increasingly likely scenario that more CO-OPs fail.

No comments: