Tags: Healthcare Reform | obamacare | co-op | folds | oregon

The Hill: Obamacare Co-ops Take Another Hit in Oregon

Image: The Hill: Obamacare Co-ops Take Another Hit in Oregon
(AP) 

By    |   Friday, 08 Jul 2016 09:04 PM

The second Obamacare co-op this week has folded, leaving just eight of the original 23 co-ops left.

According to The Hill, the Oregon health insurance co-op is in financial trouble and will be liquidated by the Oregon Department of Consumer and Business Services (DCBS).

The 20,600 customers with health plans through the co-op are being forced to find other insurance options as of July 31.

"We understand changing plans in the middle of the year will be difficult for Oregonians, but this action was necessary given the sudden deterioration of the company's financial position," DCBS Director Patrick Allen said, reports The Hill.

"We will be working hard over the next few weeks to reach Oregon's Health CO-OP policyholders to ensure they are aware of this change and to help them pick a new plan that best meets their needs."

The Hill reports the program had to pay $900,000 after expecting to receive $5 million in federal money, which led to its closure.

On Tuesday, it was reported that Connecticut's healthcare co-op is closing its doors because of financial problems. That left 40,000 customers scrambling for other coverage.

Last month, just 10 of the 23 co-ops remained in business after one in Ohio folded.

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The second Obamacare co-op this week has folded, leaving just eight of the original 23 co-ops left.
obamacare, co-op, folds, oregon
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2016-04-08
Friday, 08 Jul 2016 09:04 PM
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