ACA Government Co-Ops: Is This Experiment Working In Your State?

[Yagents]

Isn't that special.........a 74% Co-Op failure rate.

State declares Health Republic ‘insolvent,’ orders it to stop offering plans in 2017

The state Department of Banking and Insurance ordered Health Republic Insurance of New Jersey to stop offering plans in 2017, meaning consumers will only have two insurers to choose from on New Jersey’s individual health insurance marketplace next year.

Health Republic lost nearly $59 million in the first six months of the year, leaving the insurer “insolvent” and in “hazardous financial condition,” commissioner Richard Badolato said.

 

[RayNY]

Isn't that special.........a 74% Co-Op failure rate.

State declares Health Republic ‘insolvent,’ orders it to stop offering plans in 2017

The state Department of Banking and Insurance ordered Health Republic Insurance of New Jersey to stop offering plans in 2017, meaning consumers will only have two insurers to choose from on New Jersey’s individual health insurance marketplace next year.

Health Republic lost nearly $59 million in the first six months of the year, leaving the insurer “insolvent” and in “hazardous financial condition,” commissioner Richard Badolato said.

Can we please remember that just last month, HRINJ was bragging about their success and boasting how they didn't fall into the same under-pricing trap as their failing competitors? Their quote was that they had "conquered" the market... N.J. rules helped guide Health Republic to success as Obamacare co-op | NJBIZ (August 3rd article)

Back in July, they were boasting about how their "strong growth and financial position has signaled a bright start" https://documentarchive_nj-prod.s3....473794343&AWSAccessKeyId=AKIAIUFGD6XLTMR3BAEA

Keep in mind, these came AFTER the 6-month results were in, but not yet made public. They knew they lost money. They knew they were insolvent. They're blatantly lying to our faces at this point.

You must be deaf if you can't hear the fat lady singing.

 

[leevena]

6 of 23 remain, or as the administration would say "hey, I am batting .260...not bad!"

 

[RayNY]

6 of 23 remain, or as the administration would say "hey, I am batting .260...not bad!"

I know you're making a joke, but it's likely those 6 fold before the end of 2017. It's likely at least 1 or 2 more drop out before the end of 2016.