InHealth Mutual in Ohio will shut down and will force more than 20,000 people to choose new plans. They will have 60 days to find a new plan. Ohio's insurance regulator said Thursday that it had to take control of the co-op because of major losses.
The Ohio co-op is the first one this year to close. Last year, 12 of the 23 taxpayer-funded plans shut down due to mounting financial losses and a lack of federal funding.
Including InHealth, the federal government has spent $1.3 billion to set up the co-ops, which were created to offer more competition on Obamacare's exchanges.” - Ohio Obamacare co-op collapses, Washington Examiner, 05/26/2016
Link to the entire article appears below:
http://www.washingtonexaminer.com/ohio-obamacare-co-op-collapses/article/2592429
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