Yet Another Obamacare FAIL- Insurers Across America Are Collapsing, And Now There Is Fraud

[Geaux4it]

LMAO- We told you freaking morons so.

Idiots

-Geaux
----------------------------

Two weeks ago we reported that in what at the time was still a rather isolated incident, Colorado's largest nonprofit health insurer (aka co-op), Colorado HealthOP is abruptly shutting down, forcing 80,000 Coloradans to find a new insurer for 2016.

At the time, we said that the health insurer had been decertified by the Division of Insurance as an eligible insurance company because the cooperative relied on federal support, and federal authorities announced last month they wouldn't be able to pay most of what they owed in a program designed to help health insurance co-ops get established.
--------------------
And further the article states
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In other words, one of the 24 co-ops funded with Federal dollars and created to give more policyholders control over their insurers - especially those who wished to stay away from various corporate offerings, had failed simply because the government was unable to subsidize it: the same government that spends $35 billion in global economic "aid" but can't support its most important welfare program.

Fast forward to today, when we learn that another co-op, this time New York's Health Republic Insurance - the largest of the nonprofit cooperatives created under the Affordable Care Act - is not only shuttering, but was engaging in fraud.

http://www.zerohedge.com/news/2015-...ss-america-are-collapsing-and-now-there-fraud

 

[Arianrhod]

Thread #8 on the co-ops.

 

[Geaux4it]

And from the NYT

-Geaux
-------------------

What’s Wrong with Obamacare?

Somewhere in an alternative liberal universe, Paul Krugman is writing yet another column telling us that Obamacare is a success. Just this week the New York Times economic guru told us — again — that “President Barack Obama, Nancy Pelosi, and Harry Reid, who pushed the Affordable Care Act through despite total opposition from the GOP, have a lot to be proud of.” Why? Because — you guessed it — “the Affordable Care Act has been a success.”

But out in the real world, the bad news keeps coming, drop by drop, drip by drip, until we are seeing a virtual flood of Obamacare awfulness.

No doubt, the Affordable Care Act can claim some modest achievements. The number of Americans without health insurance is down significantly, although there is a question about how much that is due to the ACA and how much to other factors, like the end of the recession. And some predictions by Obamacare opponents, including me, have not yet come to pass. For example, health-care costs have not spiked. Instead, they have pretty much continued their ten-year trend of moderation, suggesting the ACA has had little impact, good or bad. Other issues remain up in the air. For instance, studies are mixed about Obamacare’s impact on jobs.

But overall, the tide of bad news is pretty hard to ignore.

What's Wrong with Obamacare?

 

[Geaux4it]

And premiums are rising. Thanks a lot Obama

-Geaux
---------------------

Obamacare: Steep Premium Hikes Coming?

WASHINGTON, DC - The Obama administration said many consumers will see noticeable premium increases when buying health coverage on insurance exchanges in 2016, acknowledging for the first time what many health care experts had predicted.

Federal officials said Monday that the price of the midrange "silver plans"-a key metric for premiums around the country-will increase by 7.5 percent on average across the three-dozen states that rely on Washington to administer the health insurance exchange for them. Oklahoma saw the highest increases, which were 35.7 percent.

Obamacare: Steep Premium Hikes Coming? - News in Roseville,California, Rocklin and Placer County,CA

 

[bucs90]

It's not a "fail". Destroy private insurance. Hello government insurance.

 

[Geaux4it]

All in the communist destructive plan

-Geaux

 

[Arianrhod]

Keep whining. Your legislators are listening. You're speeding the transition to single-payer every day.

 

[Skylar]

LMAO- We told you freaking morons so.

Idiots

-Geaux
----------------------------

Two weeks ago we reported that in what at the time was still a rather isolated incident, Colorado's largest nonprofit health insurer (aka co-op), Colorado HealthOP is abruptly shutting down, forcing 80,000 Coloradans to find a new insurer for 2016.

At the time, we said that the health insurer had been decertified by the Division of Insurance as an eligible insurance company because the cooperative relied on federal support, and federal authorities announced last month they wouldn't be able to pay most of what they owed in a program designed to help health insurance co-ops get established.
--------------------
And further the article states
---------------
In other words, one of the 24 co-ops funded with Federal dollars and created to give more policyholders control over their insurers - especially those who wished to stay away from various corporate offerings, had failed simply because the government was unable to subsidize it: the same government that spends $35 billion in global economic "aid" but can't support its most important welfare program.

Fast forward to today, when we learn that another co-op, this time New York's Health Republic Insurance - the largest of the nonprofit cooperatives created under the Affordable Care Act - is not only shuttering, but was engaging in fraud.

http://www.zerohedge.com/news/2015-...ss-america-are-collapsing-and-now-there-fraud

I think your source from Fight Club read it wrong. Its not the government that was unable to fund the program. It was the co-op that was unable to pay back a loan TO the program.

Here's the original article:

In a statement announcing its closure Friday, Colorado HealthOP said it was “well on its way” to repaying some $72.3 million it has borrowed from the federal fund. The co-op reported a net loss of $23 million last year.

Largest Health Insurer On Colorado Exchange Collapses

The 'they' in 'they wouldn't be able to pay most of they owned the program'....is the co-op.

 

[TemplarKormac]

Your legislators are listening.

No they aren't. They never do.

 

[ShootSpeeders]

Govt can't do anything right. Fact is they don't even TRY to do anything.right. On every issue all they ask is "which side will pay me the most".

 

[ShootSpeeders]

Repubs were right not to repeal this. They are letting it collapse on its own and democrats have to take all the blame since not a single repub voted for obamacare!!!

 

[ShootSpeeders]

No doubt, the Affordable Care Act can claim some modest achievements. The number of Americans without health insurance is down significantly,

How is that an accomplishment? That's like the liberals who say we ended poverty by creating the welfare state.

 

[tigerred59]

It's not a "fail". Destroy private insurance. Hello government insurance.

THE INSURANCE INDUSTRY IS OUT TO MAKE A PROFIT AND THOSE THAT CAN NOT ACHIEVE THOSE PROFITS WILL FAIL. WHY WE HAVE A MIDDLE MAN IN HEALTH CARE ONLY GOD KNOWS....JUST AS HE TOOK THE BANKING INDUSTRY OUT OF GOVERNMENT GRANTS FOR STUDENTS, THE ENTIRE HEALTHCARE INDUSTRY SHOULD BE CUT AND ALLOW FOR SINGLE PAYER VIA MEDICAID, MEDICARE...ITS THE BEST AND MOST COST EFFICIENT WAY.

 

[tigerred59]

Repubs were right not to repeal this. They are letting it collapse on its own and democrats have to take all the blame since not a single repub voted for obamacare!!!

Keep dreaming diaper babe......I'll bet you morons are still waiting on social security to fail too.

 

[tigerred59]

Govt can't do anything right. Fact is they don't even TRY to do anything.right. On every issue all they ask is "which side will pay me the most".

You keep that shit in mind, the next time mother nature come knockin at your door, k?

 

[eagle1462010]

Keep whining. Your legislators are listening. You're speeding the transition to single-payer every day.

That was Obamacare's purpose to begin with...............It never was about affordable care............because if that was it's purpose................it is a miserable failure..................

 

[AvgGuyIA]

It's not a "fail". Destroy private insurance. Hello government insurance.

THE INSURANCE INDUSTRY IS OUT TO MAKE A PROFIT AND THOSE THAT CAN NOT ACHIEVE THOSE PROFITS WILL FAIL. WHY WE HAVE A MIDDLE MAN IN HEALTH CARE ONLY GOD KNOWS....JUST AS HE TOOK THE BANKING INDUSTRY OUT OF GOVERNMENT GRANTS FOR STUDENTS, THE ENTIRE HEALTHCARE INDUSTRY SHOULD BE CUT AND ALLOW FOR SINGLE PAYER VIA MEDICAID, MEDICARE...ITS THE BEST AND MOST COST EFFICIENT WAY.

. Obamacare is like taking a shit in your backyard. Single payer is eating it.

 

[USNavyVet]

It's not a "fail". Destroy private insurance. Hello government insurance.

Government insurance is the ultimate fail. I'd rather have some control over my insurance needs than no control at all.

 

[AvgGuyIA]

Everything about ObamaNation is a failure. 19 Trillion debt, Obamacare, ISIS, welfare, corrupt Justice Dept, illegals swarming our borders, IRS used to punish nonDemocrat organizations, quantitative easing, blacks killing Police, blacks killing blacks, America no longer world leader, Russian military jets flying near our aircraft carriers and our coastline.. His 8 years will go down in history as the worst period in our history. God help us if that lying bitch Hillary wins the next election.

 

[Rozman]

It's not a "fail". Destroy private insurance. Hello government insurance.

Rush called it early on....
O Care was designed to fail....
Democrats will say that they tried their darnedest to make it work but the only
thing left will be to go to universal health care.

Government runs it all....

Music to a Libs ear.... Government....smells like victory.