Connect with us


Obamacare Coops In Serious Trouble




|| By FITSNEWS || Well, well …

It looks like people can’t even keep the Obamacare insurance they got … after they couldn’t keep the insurance they liked.

And it looks as though a salary review needs to be done for South Carolina’s Obamacare Cooperative, as well as an overall health check to see how long it has to live …

As people lose their Obamacare subsidies, enrollment will drop.  Is the S.C. General Assembly going to bail out the state’s Obamacare Coop if it stays in the red?

Because that’s where it is right now … $3.8 million in the red.

Earlier this year, The Daily Caller reported that the Palmetto State was one of five states to exceed salary limits for executives established by federal law.  And while enrollment in South Carolina has been strong (duh, our state is full of poor people) – that still hasn’t resulted in profitability for the co-op, one of 23 established across the country with nearly $3 billion in taxpayer guaranteed loans.

According to a report (.pdf here) released earlier this year by the U.S. Department of Health and Human Services (HHS), all but one of those 23 co-ops – selected by the federal government due to their “high probability of financial viability” – are losing money.

Two have gone belly-up, while another seventeen have requested … wait for it … double digit rate increases in an effort to help cover the losses.

Ah, socialized medicine …