Calvin Freiburger reports that as the GOP still somehow can’t seem to get its act together and repeal Obamacare, a free-market advocacy group has released a new infographic that drives home the nightmare that persists and grows every day this infernal law remains on the books.
Geoff Holtzman at Freedom Partners highlights the 24 Consumer-Oriented-and-Operated Plans (CO-OPs) established by the so-called Affordable Care Act at a cost of $2.4 billion.
How many of those co-ops are left?
Nineteen crashed and burned, while a twentieth never got off the ground.
The most recent to close was Minuteman Health, which shut down, blaming Obamacare’s “volatile” risk adjustment program, which it contends essentially punishes them for offering products at lower costs.
[CEO Tom] Policelli said the company has had to spend about a third of the amount it collects in premiums on risk adjustment payments, and for 2018, was seeking to increase premiums by 30 percent. Further, as a cooperative, the company was not allowed to expand beyond the individual and small-group market.
Minuteman, which operated in Massachusetts and New Hampshire, hopes to reorganize and reopen as a for-profit company next year.
As Holtzman explains, overall “more than 975,000 Americans have had to find new insurance plans and over 2 billion taxpayer dollars have been wasted due to these failed CO-OPs.”
Freedom Partners’ graphic lays all of this out simply, allowing people to see exactly what a boondoggle the co-ops have been, their cost to taxpayers, and the patients left to fend for themselves by the very law Democrats said would help them (click to enlarge):
Enough is enough. We’ve known for years Obamacare needs to go, and there’s no excuse for Republicans being so unprepared to take it out.