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17th Obamacare Co-Op Exits Due To "Hazardous Financial Conditions" - Only 6 Left
Health Republic Insurance of New Jersey is folding after the state’s insurance commissioner put the Obamacare co-op in “rehabilitation” due to its hazardous financial condition. The co-op had a liability of $46.3 million under the Affordable Care Act’s risk adjustment program, according to the New Jersey Department of Banking and Insurance. The closing will force 35,000 customers served by the New Jersey co-op to find a new plan in 2017. The co-op was initially awarded $107.2 million in taxpayer-funded loans in 2012 and received an additional $1.9 million in 2013.
The New Jersey co-op is the 17th Obamacare co-op to collapse, joining other co-ops that have failed including two in Oregon, one each in Illinois, Connecticut, Arizona, Colorado, Kentucky, Michigan, Nevada, New York, Ohio, South Carolina, Tennessee, Louisiana and Utah, as well as a co-op that served both Iowa and Nebraska.
17th Obamacare Co-Op Exits Due To "Hazardous Financial Conditions" - Only 6 Left
Just like the Democrats and Obama planned it. This whole mess will collapse just after Obama leaves office putting pressure on the next president to fix the Democrats disaster.
2.2% payroll tax for workers and employer based health insurance replaced with a 6.2% payroll tax on employers. Massively benefiting the 99% just like Medicare currently is doing, as Medicare is a much cheaper health care program to run than the current privatized for-profit system.
2.2% payroll tax for workers and employer based health insurance replaced with a 6.2% payroll tax on employers. Massively benefiting the 99% just like Medicare currently is doing, as Medicare is a much cheaper health care program to run than the current privatized for-profit system.
If Medicare benefits so many people, then why does everyone have to purchase supplemental insurance or go through a regular insurance company for a "package" in order to get decent coverage?
If Medicare benefits so many people, then why does everyone have to purchase supplemental insurance or go through a regular insurance company for a "package" in order to get decent coverage?
Because it doesnt cover everything. But the vast majority of Americans support it, because they know the alternative is terrible. Remember when there was no Medicare? That sweet air of freedom is not great when you are dying at age 67 because of cancer and you dont have the money to pay for treatment. Insurance companies are designed to make a profit, and they dont make profits on very high risk elderly people. Millions will die if you get rid of Medicare.
2.2% payroll tax for workers and employer based health insurance replaced with a 6.2% payroll tax on employers. Massively benefiting the 99% just like Medicare currently is doing, as Medicare is a much cheaper health care program to run than the current privatized for-profit system.
Will the self employed be required to pay the 6.2% plus the 2.2%? What about children and the unemployed? How will they help to fund it?
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