health insurance

Home » health insurance

Kentucky ObamaCare Cooperative Will Close

in Economic Liberty, Healthcare, Liberator Online, News You Can Use by Jackson Jones Comments are off

Kentucky ObamaCare Cooperative Will Close

This article was featured in our weekly newsletter, the Liberator Online. To receive it in your inbox, sign up here.

Kentucky’s health insurance cooperative will close by the end of the year, leaving approximately 51,000 looking for coverage from other insurers that offer plans on the state’s insurance exchange. The Kentucky Health Cooperative is the latest of its kind to close down due to financial difficulties.

Health Care

Nonprofit insurance cooperatives are an integral part of the Affordable Care Act, or “Obamacare.” But this type of health insurance provider has hit significant snags. According to a recent report from the Department of Health and Human Services Office of the Inspector General, 21 of the 23 cooperatives created under the 2010 health insurance reform law are losing money and 13 aren’t meeting enrollment projections.

The report revealed that 21 cooperatives have lost $382 million combined. The Kentucky Health Cooperative ran the largest deficit, losing more than $50 million. Cooperatives were meant to compete on the exchanges with private health insurance. They were a compromise when leftists in Congress were unable to get the so-called “public option,” or single-payer, included in the Affordable Care Act.

The Kentucky Health Cooperative decided to shutter after finding out that it would receive a smaller than expected payout from the Affordable Care Act’s “risk corridors” program, according to The Hill. This program provides health insurers with payouts to cover some of the losses they incur for plans available on the exchange.

“It is with sadness that we announce this decision,” Kentucky Health Cooperative Interim CEO Glenn Jennings said in a release. “This very difficult choice was made after much deliberation. If there were a way to avoid it and simultaneously do right by the members, providers and all others that we serve, we would do so.”

“In plainest language, things have come up short of where they need to be,” he added.

Senate Majority Leader Mitch McConnell, R-Ky., reacted to the news by noting that the closure of his home state’s cooperative is a sign of deeper problems with the Affordable Care Act.

“Barely a week goes by that we don’t see another harmful consequence of this poorly conceived, badly executed law,” McConnell said on Friday. “Despite repeated Obama administration bailout attempts, this is the latest in a string of broken promises with real consequences for the people of Kentucky who may now be losing the health insurance they had and liked twice within the past three years because of Obamacare’s failures.”

Five cooperatives have closed, including Kentucky’s. Others include New York’s Health Republican Insurance and the joint venture for Iowa and Nebraska, CoOpportunity.

Video: Coffeecare —The Affordable Coffee Act

in Healthcare, Liberator Online by James W. Harris Comments are off

You know how you buy a cup of coffee. You just go into the store, ask for what you want, and pay. End of story.

But… What if we had to buy our coffee like the government is now forcing us to buy health insurance? What if, like Obamacare, we had… Coffeecare?

This scathing and very funny animated video by RealityAlwaysWins show us. The result is a lot of laughs and a thorough indictment of the bitter brew that is Obamacare. All in just three and a half short and funny minutes.

Share it online with friends. It will open their eyes and let them smell… the Coffeecare.