http://dailycaller.com/2015/08/04/first-obamacare-co-op-to-fail-could-cost-taxpayers-over-140-million/
The first Obamacare-created insurer to go under could cost federal
taxpayers up to $140 million, according to a new court filing, reports The Daily Caller.
CoOportunity Health, a nonprofit insurer created with $147 million in
federal taxpayer loans as a result of the Affordable Care Act, was taken
over by the state of Iowa in 2014 and declared insolvent in March of
this year.
Daniel Watkins, a lawyer designated as the special deputy liquidator
charged with helping dissolve CoOportunity Health, which formerly served
Iowa’s and Nebraska’s Obamacare exchanges, filed a status report Friday
in Iowa’s Polk County District Court, raising more questions about
CoOportunity’s financial status.
After coming up with a $163 million operating loss during its first year
as an nonprofit insurer, CoOportunity still owes federal taxpayers $147
million in start-up loans originally doled out by the Obama
administration as part of the health-care law.
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