
Another co-op is shutting down, becoming the 15th to do so and bringing the total number of federal loans given to the failed nonprofit insurers to more than $1.5 billion.
Oregon’s Health Co-Op announced last week it will no longer be able to continue operating and will be shutting down. The insurance company is the third in the state to struggle financially and Oregon’s second co-op, following Health Republic Insurance of Oregon, to close its doors.
Oregon’s Health Co-Op’s closure affects more than 20,000 consumers living in the state, and customers have been advised to select new plans by July 31.
“It is with great sadness that I announce Oregon’s Health Co-Op is shutting down its doors immediately,” Phil Jackson, the co-op’s chief executive officer, said in a statement. “The board of directors agreed that it is in the best interests of our members and community that we wind down our operations.”
Oregon’s Health Co-Op was one of 23 co-ops that launched under Obamacare. The co-ops, or consumer operated and oriented plans, were intended to create competition and choice in areas of the country where consumers had few options.
The 23 co-ops—not including Vermont’s co-op, which never opened its doors—received $2.4 billion in startup and solvency loans from the Centers for Medicare and Medicaid Services.
The 15 co-ops that have since closed their doors received more than $1.5 billion in loans. The federal government awarded Oregon’s Health Co-Op specifically $56.6 million.
The Centers for Medicare and Medicaid Services has not yet said if the money given to the failed co-ops will be recouped.
Oregon’s Health Co-Op lost $18.4 million in 2015, the bulk of which the nonprofit insurer attributed to high medical claims from its policyholders. The co-op also pointed to money it owes the federal government through its risk adjustment program as delivering the final blow to its bottom line.
The risk adjustment program redistributes money from insurers with healthy customers to those with sicker, most costly customers.
Officials with Oregon’s Health Co-Op expected to receive $5 million from the risk adjustment program. But late last month, the Centers for Medicare and Medicaid Services said the co-op would instead owe $900,000.
“The result is a sudden deterioration of the company’s financial position that cannot be sustained and the company must stop doing business,” the co-op said in an announcement to customers.
One other co-op, HealthyCT, also closed its doors because of money it owes through the risk adjustment program. Two others, Maryland’s Evergreen Health and Illinois’ Land of Lincoln Health, have since taken action to prevent the collection of the risk adjustment payments.
Health policy experts expect more co-ops to collapse in the wake of the federal government’s announcement.
Just eight of the 23 co-ops that launched remain.
By By Melissa Quinn



The sniper who killed five Dallas police officers Thursday night as they guarded protesters at an anti-police brutality march was angry about recent shootings by police and “wanted to kill white people,” according to authorities.
FBI Director James Comey appeared before the House Oversight and Government Reform Committee on Thursday to further detail the FBI’s yearlong investigation into former Secretary of State Hillary Clinton’s use of a private email server and handling of classified information while she was secretary of state.
IN CONGRESS, July 4, 1776.
Despite clear guilt, there is absolutely no chance that the Obama Justice Department will indict Hillary Clinton.
With the level of the federal deficit approaching $19,000,000,000 (trillions), the interest on which costs Americans the first $1,500,000,000 they make every day, and the recent explosion of federal power over the citizens and the states as handed to U.S. socialists by the Supreme Court, the independence from government rule and tyranny sought by our Founders is all but neutralized. We and our children are indebted and imprisoned by design of a leftist attack on our country.
A damning report authored by the Republican-led House committee probing the Benghazi terror attacks faulted the Obama administration for a range of missteps before, during and after the fatal 2012 attacks – saying top administration officials huddled to craft their public response while military assets waited hours to deploy to Libya.
SUPREME COURT’S TIE DECISION BLOCKS PRESIDENT OBAMA’S IMMIGRATION EXECUTIVE ACTIONS, DELIVERING A VICTORY TO STATES CHALLENGING HIS REPRIEVE OF ILLEGAL IMMIGRANT DEPORTATIONS
A gunman who federal authorities say had possible ties to terrorism opened fire early Sunday morning in a packed Orlando nightclub, killing 50 people and wounding at least 53 more in a bloody scene that ended hours later when police stormed the building and killed the shooter.
Singer Christina Grimmie, a performer on “The Voice” in 2014, has died after being shot at a concert venue in Orlando, Florida, Friday evening, her rep said in a statement. She was 22.
A Ph.D. gunman crossed a victim off his “kill list” yesterday when he fatally shot a UCLA professor over allegations of stolen code and sparked a campus-wide lockdown in the middle of finals week. Mainak Sarkar, 38, had accused Professor William Klug, 39, of the theft in March 2016. On June 1, Sarkar confronted Klug in UCLA’s engineering complex and shot him dead with a 9mm handgun. Sarkar then took his own life.
A former model who was featured at the center of a lengthy New York Times report that assailed Donald Trump’s treatment of women said Monday that her account was taken out of context, misquoted and “spun” by the Times in order to portray the Republican presidential candidate in a negative light.
We have so many opportunities in the workforce, yet women are often still told that we’ve got to run ourselves ragged and forego balance in order to break through the glass ceiling. Why?
Ted Cruz told reporters Wednesday that he’ll be making a “major announcement” during a 4 p.m. ET rally in Indianapolis, where he’s expected to announce that ex-presidential hopeful and former Hewlett-Packard CEO Carly Fiorina will be his running mate should he win the GOP nomination.
mashing Pumpkins founder Billy Corgan blasted social justice warriors and spoke up for the American dream in a wide-ranging interview on the Alex Jones Infowars radio show on Tuesday.
Police and sheriff’s deputies rushed to Lackland Air Force Base in Texas after they received reports of a shooting Friday.
The Myth of Thomas Jefferson and Sally Hemings
We have so many opportunities in the workforce, yet women are often still told that we’ve got to run ourselves ragged and forego balance in order to break through the glass ceiling. Why?
Part of the reason work-life balance is difficult to achieve is because our society places so much weight on the financial success of one’s career.
For women, this has been particularly difficult because of the claim that we are underpaid compared with men and the notion that we have to work twice as hard to get to a level playing field. The ubiquitous statistic that women earn 77 cents for every dollar men earn is a compelling story that points to systemic discrimination against women.