Sudden closure of Obamacare insurance program leaves 20,000 people in one state scrambling for a new plan, and they were only given 60 DAYS NOTICE!
The federal government spent $1.3 billion to set up taxpayer-funded co-ops, designed to offer more competition in the market. Last year, 12 of the programs shut down over swelling financial losses.
Now Ohio’s InHealth Mutual insurance provider co-op has closed up shop, due to major losses, making it the 13th out of 23 Obamacare plans to collapse.
Major insurance companies have also started to pull out of certain Obamacare markets, including UnitedHealth and Humana. Anthem Blue Cross/Blue Shield is still participating in the program.
Republicans have criticized the loss of taxpayer funding and the impact on those who were depending on it.
Ohio Republican Rep. Pat Tiberi said, “It is unacceptable. My constituents deserve certainty, not plans that crumble and implode under their own weight.”
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