Senate Panel Says Failed ACA Co-Ops Should Repay $1.2 Billion In Federal Loans
The Washington Post says a “harsh” report unveiled Thursday by the Senate Permanent Subcommittee on Investigations warned the 12 failed co-ops which were created under the Affordable Care Act could cost taxpayers $1.2 billion. The analysis concluded that most of the loans which the Federal government made to these startups “are unlikely to be recovered, with some plans unable to pay ‘a substantial amount of money’ they still owe doctors and hospitals for members’ care.” Subcommittee chairman Sen. Rob Portman (R-OH) stated, “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.”
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