Catastrophe: Last Remaining Obamacare Exchanges Teetering On Total Collapse

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Townhall: “An official with the Centers for Medicare and Medicaid Services told lawmakers last week that eight of the 11 remaining Obamacare co-ops have been selected for “corrective action plans” and “enhanced oversight.”

Twenty-three co-ops were created under the president’s health care overhaul, and so far more than half have collapsed and are no longer selling plans in the marketplace. The 12 co-ops that went out of business operated in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina and a co-op serving Iowa and Nebraska.

The agency’s chief operating officer, Dr. Mandy Cohen, told the House Oversight and Government Reform committee that the 11 co-ops that remain are “being monitored closely,” and that eight have a corrective action plan in place and are under enhanced oversight.

Folks, it’s not working.”

Opinion: Credit the Obamapress for how little you hear about this. It is the president’s signature achievement, so ABC, CBS and NBC and CNN keep it out of the news.

Insurance companies, demonized by the progressive left for trying to make a profit, must be kicking themselves for agreeing to this wealth redistribution scheme:

According to Investors Business Daily: “Thanks to Obamacare, Blue Cross Blue Shield of Michigan lost $622 million from January through September last year. Blue Cross plans in Texas, Oklahoma, New Mexico and Montana lost $442 billion. And those in Pennsylvania, Delaware and West Virginia lost $266 million. (Investors .com)

Young and healthy consumers are avoiding Obamacare’s overpriced insurance plans like the plague, which is cutting into earnings and causing the big providers to jack up already sky-high premiums.

It is becoming more obvious every day the Obamacare was meant to fail to force the single payer system, about the same time it’s namesake would be leaving office.

Pretty clever, don’t ya think?

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(Thanks to Vason for sending this in)

Headline news @ BPTnews.org

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