Kentucky’s federally-subsidized Obamacare co-op to close.

Why?  Because the subsidy is drying up, of course: “Kentucky Health Cooperative, a nonprofit insurer known as a co-op, explained that it could not stay financially afloat after learning of a low payment from an Obamacare program called “risk corridors.”” The short version: the Democrats set up a program where higher-performing insurers would be fined for doing well, and that money would then be given to lower-performing insurers to prop them up.  SHOCKINGLY*, this turned out to be unsustainable: this administration apparently can only pay out about one-eighth of the funds that were requested by the aforementioned lower-performing insurers.  And since apparently the co-op in Kentucky can’t function without that money, it will be going belly-up. Fifth co-op to do that nationwide, by the way: and most of the rest are in the red, too. Continue reading Kentucky’s federally-subsidized Obamacare co-op to close.