Upton: “We are talking about a mess that’s essentially three Solyndras.”
WASHINGTON, DC – Oregon’s Department of Consumer and Business Services announced Friday evening that Oregon’s Health CO-OP would shutter, forcing its approximately 40,000 participants to find new coverage. This is the second CO-OP in Oregon to fail as Health Republic Insurance of Oregon closed last year. The announcement means that 15 out of the original 23 Obamacare CO-OPs have closed their doors at a total cost to taxpayers of over $1.5 billion. The closures have come at an increasingly rapid rate – 12 of the CO-OPs have collapsed since last September, with Connecticut closing last week.
“With two more closures last week, the administration has now hemorrhaged over $1.5 billion. We are talking about a mess that’s essentially three Solyndras,” said Energy and Commerce Committee Chairman Fred Upton (R-MI). “The CO-OPs are going down faster than the Titanic, yet there is not enough urgency coming out of the Obama administration to protect taxpayer dollars. With eight barely hanging on, what can the administration do to prevent further losses?”
CO-OPs that have failed and taxpayer dollars received (in order by closing announcement):
CoOportunity Health – Iowa and Nebraska
Louisiana Health Cooperative, Inc.
Nevada Health Cooperative
Health Republic Insurance of New York
Kentucky Health Care Cooperative – Kentucky and West Virginia
Community Health Alliance Mutual Insurance Company – Tennessee
Health Republic Insurance of Oregon
Consumers’ Choice Health Insurance Company – South Carolina
Arches Mutual Insurance Company – Utah
Meritus Health Partners – Arizona
Consumers Mutual Insurance – Michigan
InHealth Mutual – Ohio
HealthyCT – Connecticut
Oregon Health’s CO-OP – Oregon
TOTAL TAXPAYER DOLLARS: $1,550,885,578
Note: This total does not include Vermont’s CO-OP, which was denied an insurance license by the state, and was dissolved before enrolling a single person.