Tuesday, February 24, 2015


If you liked Solyndra you are going to love the Obamacrack co-ops.
* Only one Obamacare co-op made money during the first three quarters of 2014.
* Taxpayers are set to lose more than $1 billion of the $2.4 billion loaned to the co-ops - nearly double the loss of Solyndra. - Insurance News Net
Reminds me of a line Gov. Romney used in one of the debates with Obama. It seems like Obama only picks losers.
According to S&P, almost a third of the co-ops received more than $20,000 in federal loans for each person covered in 2014:
*The Minuteman Health Inc. Co-op in Massachusetts got more than $156 million and covered only 1,822 people - nearly $86,000 per enrollee.
*The Land of Lincoln Mutual Health Insurance Co-op in Illinois got more than $160 million and covered only 3,428 people - nearly $47,000 per enrollee.
*Freelancers Co-op of Oregon (Health Republic of Oregon) got more than $60 million and covered only 1,279 people - more than $44,000 per enrollee.

The money would have been better spent on vouchers and let these people buy coverage from a real insurance carrier.

Where do I go to get my tax money back?

#co-op  #obamacare #acquisitioncost
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