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To compete with the "Real" insurance companies, the Affordable Care Act allowed the creation of state Cooperatives... Brand new insurance companies that are supposed have rates lower than what the major insurers charge. This is as close as the Democrats could get to having a "public option" on each state's exchange.
Well, this Public option didn't make it to all 50 states because there wasn't enough seed-money from Washington. Only 24 states were chosen, with Vermont being one of the "lucky" ones.
In May of this year, the Vermont Co-op was cancelled before it even could prepare for the October 1st launch. The Vermont Insurance Commission looked at the incoming funds from D.C., the HIGHER premiums that would need to be charged to make the Co-op feasible and decided not to allow it to operate, saying that it "would go broke and fail in 3 years, or less".
Ref: Commentary: Health Insurance CO-OP Flops
The Federal Government couldn't even get a "public option" plan off the ground in one of America's smallest states, yet many expect them to one day successfully run a nationwide Public Option? Ha.
-ac
Well, this Public option didn't make it to all 50 states because there wasn't enough seed-money from Washington. Only 24 states were chosen, with Vermont being one of the "lucky" ones.
In May of this year, the Vermont Co-op was cancelled before it even could prepare for the October 1st launch. The Vermont Insurance Commission looked at the incoming funds from D.C., the HIGHER premiums that would need to be charged to make the Co-op feasible and decided not to allow it to operate, saying that it "would go broke and fail in 3 years, or less".
Ref: Commentary: Health Insurance CO-OP Flops
The Federal Government couldn't even get a "public option" plan off the ground in one of America's smallest states, yet many expect them to one day successfully run a nationwide Public Option? Ha.
-ac
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