One More Failed Obamacare Co-op

One More Failed Obamacare Co-op

The Louisiana Department of Insurance (LDI) announced Friday that Louisiana’s Obamacare health insurance co-op will be closing by the end of 2015. This is the third co-op to collapse since the 2012 and the second this year. “Roughly 18 months into its existence, in September 2012, the Louisiana co-op received $66 million from the U.S. Centers for Medicare and Medicaid Services. By 2014, the National Association of Insurance Commissioners reported that the co-op had burned through half of its cash and suffered a net operating loss of $23 million.”

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