Sharyl Attkisson Highlights Widespread Failure of ObamaCare Co-Ops

‘The federal government is going to spend more than $2 billion on this really stupid idea that turns out never worked’

THUMAN: "Nevada is now one of 23 co-ops created by the Affordable Care Act known to most as ObamaCare. It is also one that is failing and will shut down at the end of the year. It’s a number that is growing." 
LASZEWSKI: "And so here we are, just two years into ObamaCare and they are dropping like flies and no one is surprised."
THUMAN (voice-over): "Robert Laszewski is a health industry analyst." 
LASZEWSKI: "The federal government is going to spend more than $2 billion on this really stupid idea that turns out never worked. It was awfully naive to think that you could put people in business in the most problematic part of the market and they were going to take on the insurance giants and show them how it was done. I mean, this is just a government fiasco."
THUMAN (voice-over): "He says the co-ops faced a stacked deck from the beginning."
LASZEWSKI: "The insurance companies generally don’t make money in the individual market. They make it elsewhere. They make it in Medicare, they make it in employer-based care. So the co-ops could only be in the problematic part of the market no one has ever made money in. And then the co-ops could only take financing from the federal government. They didn’t have the ability, they don't have the ability to go raise more capital outside of the government."

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