Political Quotes

“Earlier I mentioned the CO-OPS. I would have preferred the small business health plans. I didn't think the CO-OPS would work. CO-OPS were included in ACA. These plans were meant to provide competition with existing health insurance companies. It was an opportunity to set up insurance companies that actually were funded. The CO-OPS were given $2.4 billion in ``federal loans.'' The CO-OPS were prohibited from having former healthcare executives with managerial or accrual experience. The CO-OPS were conceived to drive down the premiums by providing competition and underselling the cost for policies. More than half the 23 CO-OPS went out of business in 2015, but 8 of the remaining 11 CO-OPS were in financial trouble. The number of CO-OPS is now down to 7 (4 of the prior CO- OPS went bankrupt in 2016). Examples of how the CO-OPS that have failed and have cost the taxpayers. In 2015 alone, there was a huge amount of money lost and also cost the enrollees in the CO-OPS their insurance. New York Health Republic, 23,000 policies lost, $57 million dollars lost in the first half of 2015. Iowan and Nebraska CO-Opportunity Health, 120,000 policies canceled, $146 million dollars lost. Arizona CO-OP, 59,000 enrollees lost their insurance, $90 million dollars lost. Colorado CO-OP, 89,000 enrollees insurance canceled, $72 million dollars lost. Ms. HASSAN addressed the Chair. The PRESIDING OFFICER. The Senate will be in order. The Senator from Wyoming has the floor.”