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ACA’s Experimental, Consumer-Owned Insurer Funded With $146M Fails

Mealey's (June 16, 2015, 9:18 AM EDT) -- WEST DES MOINES, Iowa — The Iowa insurance commissioner will liquidate CoOportunity Health Inc., a consumer-owned health insurance company started with $146 million in Patient Protection and Affordable Care Act (ACA) funds, it announced Jan. 23 (State of Iowa, et al. v. CoOpportunity Health Inc., No. N/A, Iowa Dist., Polk Co.).

(Liquidation press release available. Document #93-140128-006X. Liquidation general information release available. Document #93-140128-008X. Petition for rehabilitation order available. Document #93-140128-007X.)

According to Iowa Insurance Commissioner Nick Gerhart, CoOpportunity Health’s medical claims exceed its cash on...
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