by Mike ‘Mish’ Shedlock
Obamacare is making huge progress of sorts. Of the original 23 co-op sponsors the score is 17 down and only 6 to go.
Please consider Another ObamaCare Co-Op Folds, Leaving Only 6 Remaining.
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 co-op had a liability of $46.3 million under the Affordable Care Act’s risk adjustment program, according to the New Jersey Department of Banking and Insurance.
The closing will force 35,000 customers served by the New Jersey co-op to find a new plan in 2017.