More Than Half Of ACA Co-Ops Have Now Failed

WASHINGTON, DC - The number of failed Obamacare CO-OPs grew to one dozen today as Michigan became the latest to announce it was closing. To date, 12 of the original 23 CO-OPs have closed, bringing the total cost to taxpayers at more than $1.23 billion. This Thursday, the Subcommittee on Oversight and Investigations will hold a hearing on "Examining the Costly Failures of Obamacare's CO-OP Insurance Loans."

CO-OPs that have failed and taxpayer dollars received (in order by closing announcement):

CoOportunity Health - Iowa and Nebraska

Cost: $145,312,100

Louisiana Health Cooperative, Inc.

Cost: $65,790,660

Nevada Health Cooperative

Cost: $65,925,396

Health Republic Insurance of New York

Cost: $265,133,000

Kentucky Health Care Cooperative - Kentucky and West Virginia

Cost: $146,494,772

Community Health Alliance Mutual Insurance Company - Tennessee

Cost: $73,306,700

Colorado HealthOp

Cost: $72,335,129

Health Republic Insurance of Oregon

Cost: $60,648,505

Consumers' Choice Health Insurance Company - South Carolina

Cost: $87,578,208

Arches Mutual Insurance Company - Utah

Cost: $89,650,303

Meritus Health Partners - Arizona

Cost: $93,313,233

Consumers Mutual Insurance - Michigan

Cost: $71,534,300

TOTAL TAXPAYER DOLLARS: $1,237,022,306

Note: This total does not include Vermont's CO-OP, which was denied an insurance license by the state, and was dissolved before enrolling a single person.

Read this original document at: http://energycommerce.house.gov/press-release/michigan-closure-more-half-obamacare-co-ops-have-now-failed