Smith Hosts Briefing to Bring Attention to Obamacare CO-OP Failures

Statement

Congressman Adrian Smith (R-NE) hosted a briefing today in conjunction with the Council for Affordable Health Coverage to educate congressional staff on significant concerns with the Affordable Care Act's Consumer Operated and Oriented Plan (CO-OP) Program. With a panel of health insurance experts, attendees discussed an overview of CO-OPs, their challenges, and next steps.

"Nebraskans know firsthand the hardships caused by failures of the Obamacare CO-OP Program," Smith said. "CoOportunity Health's liquidation has left 80,000 Nebraskans once again looking for new insurance. Just last week, the Louisiana Health Cooperative announced it would shut down in 2016 due to financial insolvency. In fact, only one of 23 Obamacare CO-OPs made a profit in 2014, and it is predicted several more will collapse within the next few years.

"This failing program has already placed billions of taxpayer dollars on the line and could result in millions of people losing their insurance. I have asked the Department of Health and Human Services many questions about this troubling situation and continue to try to gather information and answers. In the meantime, I am committed to addressing this issue in Washington."

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