Another ObamaCare Co-Op Closes. Yes, Another.
Stop me if you think you've heard this story before:
Another Obamacare co-op, Connecticut’s HealthyCT, is closing its doors, and at least two more could follow suit as the nonprofit insurers decide whether they will be able to remain on firm financial footing.
The nine remaining co-ops of the original 23 co-ops must make payments totaling at least $130 million through Obamacare’s risk adjustment program, which could damage their viability.
The Connecticut Insurance Department announced Tuesday that HealthyCT was placed under state supervision, leaving approximately 40,000 Connecticut residents to find new health insurance during the next open enrollment period.
This marks the 14th ObamaCare co/op insurance plan to bite the dust. Yes, the 14th. That means tens of thousands of people in 14 different states who will be looking for new insurance plans, through no fault of their own.
This is, in a nutshell, the story of ObamaCare. Since it was passed and signed into law, it has created mass chaos in the insurance market. Millions of people who were told they could keep their insurance plans if they liked them found out the hard way that they can't.
Are you one of those people? Was your plan canceled by ObamaCare? Were you insured by one of the ObamaCare co-ops that has failed? If so, we want to hear from you.