Friend of Obama gets $340M to set up Obamacare co-ops

Friend of Obama gets $340M to set up Obamacare co-ops

A health insurance company headed by an old friend from when President Obama was an Illinois state senator got a $340 million federal loan to establish Obamacare co-ops in New York, New Jersey and Oregon despite having a chronic record of consumer and regulatory complaints.

The New York-based Freelancers Insurance Company has been rated the “worst” insurer for two straight years by state regulators, and data compiled by a national insurance association show an extremely high rate of consumer complaints.

The firm was founded in 2008 by Sara Horowitz, who worked with Obama while he was in the Illinois state senate to launch Demos, a left-wing, New York think tank funded in part by George Soros.

Before May 13, 2011, the Demos website described Horowitz and Obama as members of the founding group in 1999 that became “the core of Demos’ staff and Board of Trustees.”

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