The Kentucky Health Cooperative announced it will be ceasing operations December 31, 2015 leaving 31,000 without their current health insurance plan. The federal government had funded them with approximately $58 million for start up and reserves. How much of that taxpayer money is given back is anyone's guess.
In it's announcement Kentucky Health stated that a big reason why it is closing is due to the fact that under the Risk Corridor program they are only receiving $9.7 million dollars instead of the $77 million they thought they were going to receive.
This theme is beginning to sound like a broken record.
Monday, October 12, 2015
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