Fox News: NY State’s ObamaCare Co-Op Is Shutting Down, the 6th To Fail

‘The challenges of the structure of the co-op system was too difficult to overcome’

“The Health Republic of New York, the state’s ObamaCare funded insurance Co-Op is closing its doors. It now becomes the sixth marketplace to fail since the $2,4 billion program was launched in 2011. The CEO blames the structure of the Co-Op system, saying the challenges were too difficult to overcome. Insurance Plans will continue through the end of the year. The Federal government gave the startup $265 million in 2011 and another $91 million last year. New York system may not be the last to go ‘If a Co-Op has solvency issues, and we cannot rule out that others may this year, we will work with the states so that consumers have affordable options.’“

Video files
Full
Compact
Audio files
Full
Compact