Another Obamacare Success Story

[townpete]

State regulators shut down Colorado HealthOP citing cash-reserve woes
 
Colorado HealthOP faced a $10 million shortfall as a result of the feds reimbursing just 12.6 percent of the promised “risk-corridor” payments, officials said.
 
 
Remember all those that said O'care was gonna be awesome?
 
Suckers lol

 

[Ifly2]

You want the Feds to be prudent and frugal wirh your tax dollars, correct?

 

[Ifly2]

"Op's aggressive strategy of slashing premiums resulted in a quintupling of its member base, which accounts for about 40 percent of policies sold on the health exchange and 2.5 percent of all insurance policies in Colorado. To help support the growth, HealthOP took on about $72 million in low-interest federal loans.

Other Consumer Operated and Oriented Plans around the country took the same tack, which was intended to create a more competitive marketplace.

However, there were risks, analysts said. If the loans were to run out, or if the carriers were hit with unexpectedly large claims, the small co-ops would likely not have the financial resources to survive, analysts told The Denver Post in March."


That right there is called calitalism

Risks are taken, and Failures happen

The insurance commission stepped in to make sure consumers weren't fleeced

That is called responsible government oversight

Yup! A success story, worked just like it should


Did you even read the article?

Can you even read?

 

[townpete]

Keep the spin alive iffy!

Prepare for more butthurt:

One third of Obamacare co-ops have failed.

New York’s Obamacare co-op drew the most consumer complaints.

Feds admit more Obamacare co-op failures are coming.

Obamacare co-op execs hid millions in lavish pay, consulting fees.

House panel says Obamacare co-op illegally diverted $25 million.

‘Luxurious’ funding lets Obamacare co-ops undercut commercial rivals.

Obamacare co-ops mostly not ready for opening day.

Four investigations of Obamacare co-ops.

Obamacare’s Louisiana co-op riddled with self-dealing, conflicts of interest.

Groups led by insider trader, child abuser got Obamacare co-op loans.

Obama political ally got $340 million Obamacare co-op loan.

Obamacare co-ops being formed behind closed doors.


http://dailycaller.com/2015/10/16/co-op-flop-the-biggest-obamacare-disaster-youve-never-heard-about/#ixzz3oqQVRsnS

 

[Ifly2]

That is all just exactly what one sees in every business and industry in every capitalist system.

Enron to Braniff 2/3 to the discount furniture store bankruptcy business model to the legalized theft of employees' pensions (earned deferred compensation... Not one bit different than backing a truck up to the old folks garage doors and carting off all their stuff, and completely legal...) that your "conservative" business-friendly heroes enable and support. (See Bain Capital and Trump Enterprises for pertinent examples...)

That's what ya' get when industries write the legislation governing themselves, as the health insurance industry did with ObamaCare.

In that sense, yes, it was a failure. The GOP is equally culpable, for their decision to abdicate their responsibility to govern, as is the DNC and the Onama Administration for allowing the industry lobbies to dictate a ssystem designed to ake themselves rich at everyone else's expense.

Universal MediCare, a al our Northern Neighbors, is the only real, practical, and effective solution, and we do not have "leaders" with the common sense or devotion to duty to make it happen.

They have all been replaced with bought and paid for insteuments of corporate greed.

For another history lesson, read up on The Donald's comments about Universal Health Care.

 

[Ifly2]

I shouldn't say thst is the only answer.

It is an answer

If you want a free market based system you are going to have corruption, profit taking, risks, poor management, and failures along side the successful well managed responsibly stewarded companies.

That is what it is, and that is a natural part of the market process.

At least there are regulatory agencies willing to shut down the weak before the public is burned, instead of those of the W era who were literally sleeping with those that they regulated.

 

[townpete]

I shouldn't say thst is the only answer.
It is an answer
If you want a free market based system you are going to have corruption, profit taking, risks, poor management, and failures along side the successful well managed responsibly stewarded companies.
That is what it is, and that is a natural part of the market process.
At least there are regulatory agencies willing to shut down the weak before the public is burned, instead of those of the W era who were literally sleeping with those that they regulated.

Does Obamacare cover verbal diarrhea?

Cause you have a chronic case of it my friend.

 

[Ifly2]

Not much of substance can be fit on a bumper sticker

 

[NewHampshire Black Bears]

Not much of substance can be fit on a bumper sticker

 
ifly2,
I know you're aware of this,...........but allow me to be a bit redundant here.
When you correspond with a IDIOT,......expect  IDIOTIC correspondence in return !

 

[Ifly2]

He isn't important

It's the innocent minds he's corrupting with his fear and hate that matter

 

[townpete]

He isn't important

It's the innocent minds he's corrupting with his fear and hate that matter

 
 
You two are cute together.
 
Intellectually dishonest, but cute all the same.

 

[townpete]

 

[Ifly2]

And... Let the name-calling begin

At least that fits on a bumper sticker

And the typical Fox Repub attention span

 

[townpete]

Obamacare Co-Op Insurers Across America Are Collapsing, And Now There Is Fraud
 
Today we learn that not only was this largest Co-op insolvent, it had also committed fraud. According to Politico, the collapsing insurance company that is creating headaches for hundreds of thousands of New Yorkers, misled state and federal officials about its finances, and will not be able to remain in business through the end of the year as originally hoped.
 
 

 

[townpete]

For the best reactions to this effing socialist disaster you simply look no further to the official Obamacare propaganda facebook group.
 
lol