Lucy Obamacare turns 80,000 more Coloradans into Charlie Browns
DENVER—Today the Colorado Division of Insurance (DOI), within the Department of Regulatory Agencies (DORA) took action against the Colorado Health Insurance Cooperative (HealthOP). Colorado insurance consumers will not be able to buy new HealthOP coverage or renew their plans for 2016.
The DOI took this action according to their press release, “as the financial viability of the cooperative came into question after “learning it would receive considerably less money than expected from a federal, risk-based reimbursement program” known as “risk corridor.”
The Centers for Medicaid and Medicare (CMS) announced it would only reimburse the nation’s health insurers $362 million out of $2.9 billion promised. HealthOP was expecting over $16 million this year in risk corridor payments but instead will only receive $2 million.
Advancing Colorado Executive Director Jonathan Lockwood released the following statement:
“Obamacare is Lucy and 80,000 more Coloradans became Charlie Browns thanks to this disastrous law. Losing health insurance is a big issue and endangers real human lives. Today’s story is exactly why people across America are looking for a repeal of Obamacare and a replacement, with true reforms that lift us all up, with expanded choice, more options, more competition and more positive outcomes for more people, all with greater affordability.
“Coloradans deserve, and absolutely need, real free-market reforms to ensure their lives are safe and healthy. Taxpayers shouldn’t be on the hook for insurance bailouts and insurance consumers shouldn’t be forced to buy health care plans with mandatory minimum mandates. We could have avoided all of this nightmare with a dose of common-sense.
“What we are witnessing is the fulfillment of long-told prophesies of what would happen as a result of this complicated and dangerous version of fake health care reform. Americans are seeking deliverance from this killer law and its very real and very scary impacts.”