AN­OTHER ONE BITES THE DUST

The Washington Times Weekly - - Politics -

Seven­teen Oba­macare co-ops have now failed, re­ports Amer­i­cans for Tax Re­form, which has been track­ing the trend for years. No. 17 is Health Repub­lic In­sur­ance of New Jersey, which has an­nounced it would close de­spite re­ceiv­ing $110 mil­lion in tax­payer funded loans, leav­ing 35,000 mem­bers without cov­er­age. The cost of these col­lapses: $1.8 bil­lion in funds that may never be re­cov­ered.

“Co-ops were hyped as not-for-profit alternatives to tra­di­tional in­sur­ance com­pa­nies cre­ated un­der Oba­macare,” says the tax coali­tion, which notes that the project has a to­tal price tag $2.4 bil­lion in start-up loans.

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