DKW 86 7,411 Posted October 15, 2015 Share Posted October 15, 2015 http://townhall.com/...g-post-n2065922 Kentucky’s nonprofit health insurer set up under ObamaCare is shutting down because of financial problems, the latest in a string of closures for the nonprofit plans around the country. Kentucky Health Cooperative, a nonprofit insurer known as a co-op, explained that it could not stay financially afloat after learning of a low payment from an ObamaCare program called “risk corridors.” That program was intended to protect insurers from heavy losses in the early years of the health law by taking money from better-performing insurers and giving it to worse-performing ones. However, the Obama administration announced on Oct. 1 that the program would pay out far less than requested, because the payments coming in were not enough to match what insurers requested to be paid. Therefore, insurers only will receive 12.6 percent of the $2.87 billion they requested...The Obama administration said when making the risk corridor announcement earlier this month that the low payments could cause “isolated solvency and liquidity challenges” for a small number of insurers. The Kentucky co-op is the fifth to close, following New York’s co-op last month. Link to comment Share on other sites More sharing options...
icanthearyou 4,462 Posted October 15, 2015 Share Posted October 15, 2015 Help insure the uninsurable is a positive. Help insure those who cannot afford insurance is a positive. Containing costs is a monumental failure. I think we should attempt to understand why before giving up. At the very least, there should be some practical, non-political discussion. Link to comment Share on other sites More sharing options...
AURaptor 1,121 Posted October 16, 2015 Share Posted October 16, 2015 O-Care was designed to fail. The 'fix' is a one payer system, which Obama is on record for saying that's what he wants, eventually. Why anyone acts shocked or surprised about any of this baffles me. Are we really so naive ? Or does it make the psyche of millions of Americans feel better to believe the lie that " Something needed to be done, and this may just work ! " Looks as if the Left are trying to fool just enough of the people for just long enough to prevent anything remotely resembling the free market to have a chance to work. Link to comment Share on other sites More sharing options...
DKW 86 7,411 Posted October 16, 2015 Author Share Posted October 16, 2015 Help insure the uninsurable is a positive. Help insure those who cannot afford insurance is a positive. Containing costs is a monumental failure. I think we should attempt to understand why before giving up. At the very least, there should be some practical, non-political discussion. There is a bi-partisan, reasoned fix coming. I just feel it coming. Link to comment Share on other sites More sharing options...
autigeremt 6,569 Posted October 16, 2015 Share Posted October 16, 2015 Help insure the uninsurable is a positive. Help insure those who cannot afford insurance is a positive. Containing costs is a monumental failure. I think we should attempt to understand why before giving up. At the very least, there should be some practical, non-political discussion. The law isn't built to succeed. Scrap it. Link to comment Share on other sites More sharing options...
icanthearyou 4,462 Posted October 16, 2015 Share Posted October 16, 2015 Help insure the uninsurable is a positive. Help insure those who cannot afford insurance is a positive. Containing costs is a monumental failure. I think we should attempt to understand why before giving up. At the very least, there should be some practical, non-political discussion. The law isn't built to succeed. Scrap it. Why not fix it? Link to comment Share on other sites More sharing options...
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