Unless you are a residentof Illinois, I am betting you’ve not seen this in mainstream media.
But that doesn’t mean it isn’t there.
Excerpted from Toni-Anne Barry’s article at Americans for Tax Reform (ATR):
Sixteen Obamacare co-ops have now failed. Illinois announced that Land of Lincoln Health, a taxpayer funded Obamacare co-op, would close its doors, leaving 49,000 without insurance. The co-op now joins a list of 15 other Obamacare co-ops that have collapsed since Obamacare has been implemented. Failed co-ops have now cost taxpayers more than $1.7 billion in funds that may never be recovered.
Co-ops were hyped as not-for-profit alternatives to traditional insurance companies created under Obamacare. The Centers for Medicare and Medicaid Services (CMS) financed co-ops with startup and solvency loans, totaling more than $2.4 billion in taxpayer dollars. They have failed to become sustainable with many collapsing amid the failure of Obamacare exchanges.
Since September, 13 Obamacare co-ops have collapsed, with only seven of the original 23 co-ops remaining. Illinois’ Land of Lincoln co-op faced losses of $90 million last year and is suing the federal government for the deficit caused by Obamacare. Co-ops across the country have struggled to operate in Obamacare exchanges, losing millions despite receiving enormous government subsidies.
The mass failure of co-ops should not be surprising. Larger insurance companies have also struggled to operate in Obamacare exchanges with many announcing they will stop providing coverage.
A question for you: if this had been a story about 16 ObamaCare co-ops doing well, do you think you’d have seen it in the same media which, instead, are burying it so that as few people as possible get the news?
The reality they don’t want you to know? ObamaCare is, and has always been, an unworkable monstrosity – one that is costing most people money rather than saving them that magical, mystical $2,500 per family promised by President Obama.
But look at the bright side: at least Mr. Obama made sure that if you like your doctor you can kee…..oh, wait. Never mind.
ObamaCare is, and has always been, an unworkable monstrosity.
That shouldn’t come as any surprise to people that know history. Communism has never worked. No government has ever been better than the free market. We have over 100 years of history that proves it.