http://www.thespectrum.com/story/news/local/2015/10/31/utah-insurer-closing-leaves-looking-new-options/74976032/
This week's announcement of the closure of Utah's cooperative health
insurer leaves 65,000 residents looking for a new insurer and fueled
critics of President Obama's health care law, which created the co-ops.
State
regulators moved to shut down Arches Mutual Insurance Co. after the
insurer learned it would only get a fraction of the federal money it was
counting on, leaving it scrambling for cash. It will keep paying claims
for customers this year but will close in 2016.
Almost all of the 23 co-ops created under the 2010 health law have struggled and Utah's is the 10th to shut down.
Arches
expected about $14 million this year from a stabilization fund set up
under the law. But on Oct. 1, the federal government announced that the
fund collected less money than expected and insurers would only receive
about 13 percent of their requests.
A closer look at what the closure means for customers and other programs under the health law:
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