Connecticut CO-OP fails…

Connecticut Co-Op Healthy CT will stop selling plans and wind down enrollment over the next 12 months. 40,000 people will lose their coverage under ObamaCare, for the same reasons as all the others- ObamaCare is underfunded, although for slightly different reasons this time.  They will no longer be able to renew coverage as of August 1.

This makes it the 14th of the 23 CO-OPs formed by ObamaCare to fail (61%)Please see the links to the coverage of this story. Risk Adjustment payments dooming this carrier. When government intervenes without knowing the business or the true issues, this is what happens and unfortunately the members pay the consequences and suffer.

Connecticut Mirror
Connecticut Post
AP
CNBC
The Hill
Hartford (CT) Business Journal

Let me know if you have any questions.