The government lent them $1.2 billion. They went broke – 12 of them. The money was spent and cannot be returned. Congressman Rob Portman said “these failed CO OPs were a costly experiment gone wrong, and real people got hurt – including the more than 700,000 Americans who lost their health plans” while CMS Acting Administrator Andy Slavitt said the CO OPs “challenges should be viewed as a small business startup problem” rather than a problem of the program itself (of course not – only 12 of the 23 went broke, spending half the total government loan) Senate Republicans have now gone on record saying they want the CO-Ops to pay back the money – with what?
Should Failed Co-ops be responsible for paying back what they borrowed when they’re broke?
April 20, 2016