Colorado HealthOP, largest health insurer on Colorado exchange collapses

[PoliticAverse]

DENVER (AP) — Colorado's biggest nonprofit health insurer announced its closure Friday, forcing nearly 83,000 Coloradans to find a new insurer for 2016.

Colorado HealthOP announced Friday that the state Division of Insurance has de-certified it as an eligible insurance company. That's because the cooperative relied on federal support, and federal authorities announced last month they wouldn't be able to pay most of what they owed in a program designed to help health insurance co-ops get established.

The Colorado announcement makes the co-op the seventh in the nation to collapse. Similar nonprofit insurers have already failed in Kentucky, Louisiana, Iowa/Nebraska, Nevada, New York and Tennessee.

Open enrollment for 2016 starts Nov. 1. The Colorado Division of Insurance must first certify insurers before they're allowed to sell plans, so the de-certification essentially puts Colorado HealthOP out of business.

Read the rest at: http://www.reporterherald.com/news/colorado/ci_28979301/largest-health-insurer-colorado-exchange-collapses

[elleng]

1. 'federal authorities announced last month they wouldn't be able to pay

most of what they owed in a program designed to help health insurance co-ops get established.'

[PoliticAverse]

2. "Most Health Insurance Co-ops Are Losing Money, Federal Audit Finds"

http://www.nytimes.com/2015/08/15/us/most-health-insurance-co-ops-are-losing-money-federal-audit-finds.html?_r=0

[elleng]

3. Damn!

'F' insurance, We the People must pay health providers directly!

[mountain grammy]

4. Medicare for all, Medicare for all, Medicare for all...

Now and forever; Medicare for all!

[enlightenment]

5. Single payer.

Get rid of all the supplemental nonsense.

[elleng]

6. Yes, and enable a big gorilla to NEGOTIATE with providers,

the only way prices will become sane.

[enlightenment]

7. Or Elizabeth Warren.

I think she'd do pretty well - as long as the government had her back instead of trying to stick a knife between her ribs.

[elleng]

8. I love her but there's no way she or any individual could negotiate

with all the providers for all the procedures and medicines. Need someone like the entity that negotiates for the federal employees health benefits plan, a network of experts.

https://www.opm.gov/healthcare-insurance/healthcare/

[enlightenment]

9. Oh, not on her own.

Just the silverback of the troop (metaphorically).