Liquidation looms for insurance cooperative | WHAT REALLY HAPPENED

Liquidation looms for insurance cooperative

An insurance cooperative created to provide health care in Iowa and Nebraska will be formally liquidated this weekend.

Iowa Insurance Commissioner Nick Gerhart said Thursday that a Polk County judge has agreed to approve the liquidation plan, which will be finalized on Saturday night.

CoOportunity is a federally funded nonprofit established to provide health care in Iowa and Nebraska. Gerhart took the cooperative over after he determined the nonprofit’s claims would exceed its available cash.

Webmaster's Commentary: 

We will see more of these. The more-costly Obamacare policies come with sky-high deductibles, which means they don't really pay that much for your health care. The costs that used to be covered by the major health insurance companies that wrote the ACA are now being shifted onto supplemental insurance programs, which are then driven into bankruptcy.

Thank you, Obamacare!

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