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"Connecticut's taxpayer-funded Obamacare health insurer will close due to minimal federal funding, becoming the 14th consumer-operated and oriented plan to shut down. The state's insurance regulator took over HealthyCT, the state's Obamacare co-op, on Tuesday due to financial problems. The co-op, created to spur more competition on Obamacare's marketplaces, is the 14th out of 23 nationwide to shut down since they were created in 2014. Now only nine co-ops remain. The state's insurance regulator already flagged HealthyCT for needing more scrutiny, but it had enough money to remain solvent for the foreseeable future, according to the notice from the regulator. But that changed when the federal government released a report last week on risk adjustment payments. The risk adjustment program was created to help Obamacare insurers adjust to the new market. It transfers funds from insurers with healthy enrollees to insurers with very sick ones.", www.washingtonexaminer.com
"A nearly $150 million bill from the federal government has taxpayer-funded Obamacare plans angry, with some experts wondering if more co-ops could shut down in the coming months. When the Obama administration last week announced payments under the risk adjustment program for the 2015 benefit year, the news wasn't good for the 10 Obamacare consumer oriented and operated plans, or co-ops, that remain out of the 23 original plans, which owe more than $150 million to the government. On Tuesday, the payments claimed one victim, as Connecticut's insurance regulator shut down the HealthyCT co-op after it learned it owed $13.4 million in risk adjustment payments. The payments come as insurance regulators must ensure that co-ops can offer plans in 2017 before open enrollment in Obamacare starts on Nov. 1. I do think that there will be some maneuvers or cases to be made that a couple can stumble on to the next year, but that is just putting off the inevitable, said Tom Miller,", www.washingtonexaminer.com
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