New Jersey Obamacare exchange fails; only 6 left now

New Jersey Obamacare exchange fails; only 6 left now

[Ed. – All going according to plan.]

Besides Guy [Benson], The Washington Free Beacon’s Ali Meyer has been another historian charting the decline of President Obama’s health care law, noting that earlier this month—New Jersey’s Obamacare co-op collapsed. That leaves only six out of the original 23 co-ops left functioning:

Health Republic Insurance of New Jersey is folding after the state’s insurance commissioner put the Obamacare co-op in “rehabilitation” due to its hazardous financial condition. … 

The closing will force 35,000 customers served by the New Jersey co-op to find a new plan in 2017. The co-op was initially awarded $107.2 million in taxpayer-funded loans in 2012 and received an additional $1.9 million in 2013.

Throughout the summer, the law has seen nothing but bad news. Health care insurance providers began to pull out of the market, premiums were expected to soar into the double-digits, and the co-op network could collapse altogether by the end of this year. Yes, six remain, but the whole system is on the verge of total catastrophe.

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