CoOportunity Health, a fledgling Iowa health-insurance company set up under the Affordable Care Act, has been taken over by by state regulators and could soon go under, officials said Wednesday.
CoOportunity Health is an insurance cooperative set up to give consumers and small businesses an alternative in a market with few choices. The company relied on tens of millions of dollars in federal loan guarantees provided under the Affordable Care Act, also known as Obamacare. It began selling policies in 2013.
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