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Obamacare Cooperative Goes Under …

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Three weeks ago we wrote a story about Obamacare’s health insurance cooperatives being in serious trouble.

Well guess what …

According to the Associated Press, Consumers’ Choice Health Insurance Co. – a South Carolina cooperative formed under Barack Obama‘s so-called “Affordable Care Act” – will not sell policies in 2016 due to its “financially hazardous condition.”

“I did not have the confidence that this company would be a viable entity throughout the entire year of 2016,” Ray Farmer, director of the S.C. Department of Insurance, told the wire service.

That means nearly 70,000 South Carolinians who were supposed to be covered by the coop will have to figure something else out.

Consumers’ Choice is the ninth Obamacare cooperative to go under across the country …

The federal government pumped billions of dollars in taxpayer loans into these coops, citing their “high probability of financial viability.”

Oops …

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