Obamacare Rules Change Opens Door For State Bailouts
Under the Affordable Care Act (Obamacare), the government spent $2.4 billion creating 23 non-profit healthcare cooperatives which were intended to help drive down health insurance costs through competition with for-profit companies.
As we noted, insurance premiums have subsequently skyrocketed, 12 of the 23 co-ops lost so much money that they had to shut down, and the remaining 11 lost a combined $400 million last year. So far, so good on the Obamacare front.