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July 31, 2015

Health insurance co-ops awash in red ink

  • Medicare chief Andy Slavitt defended the new nonprofit co-ops that compete with insurance companies, saying they don't have an easy job.
  • By RICARDO ALONSO-ZALDIVAR
    Associated Press

    WASHINGTON — Fed up with the insurance industry, Democrats used the health care overhaul to create nonprofit co-ops that would compete with the corporations. Now a government audit finds co-ops are awash in red ink.

    Only one out of 23 — the co-op in Maine — made money last year, said Thursday's report from the Health and Human Services inspector general's office. Thirteen lagged far behind their sign-up goals for 2014.


     
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