Two-Thirds of ObamaCare Co/Ops Have Collapsed
Last Thursday, we told you about the collapse of the ObamaCare co/op in Connecticut. Then, on Tuesday, the Oregon co/op also bit the dust. We're sorry to sound like a broken record, but yet another ObamaCare co/op has failed, this time in Illinois:
The Illinois Insurance Department moved Tuesday to shut down Land of Lincoln because of its unstable financial health, leaving about 49,000 policyholders in a lurch. They will lose coverage in the coming months, but neither regulators nor the company have said exactly when.
I'm not sure it's possible to overstate just how much of an unmitigated disaster the ObamaCare co/op health insurance system has been. Illinois is the 16th program to fail. That means, out of the 23 co/op plans that were established, only seven of them remain. Two-thirds have collapsed. A 66 percent failure rate.
The only way to stop this insanity is by repealing ObamaCare and replacing it with market-based reforms that make health care affordable for all Americans. Visit TheRepealPledge.com today to see if your Congressman and Senators have signed the Pledge to repeal ObamaCare. It's the only way to know that they are fully committed to putting an end to the chaos the law has created in America's health care system.