10.09.2014 1

Predicted failure of Obamacare co-ops

This article was originally published in TheHill.com, full version linked below.

By Rick Manning

The first shoe to drop in an impending Obamacare funding grant scandal was heard in New York this week, where the Freelancers Union, which received a $340 million health insurance co-op grant from the Administration in 2012, announced that they were no longer going to provide health insurance.

The ironic reason given by the group is the high cost of complying with Obamacare regulations.

The Washington Examiner reports that while the Co-Op had received a one-year waiver from the Administration on complying with the regulations, they announced on September 30 that premiums would have to rise by 14 percent to meet the federal government requirements.  New York State clients of the Freelancers will be transferred to the Empire Blue Cross/Blue Shield health plan.

Get full story here.

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