Co-ops created under ObamaCare reported net assets despite losing millions because they used an accounting trick approved by the Centers for Medicare and Medicaid Services.

Tax filings for 18 co-ops, including nine that collapsed in 2015, also revealed that co-op CEOs were paid handsomely before many had to shut down.

In July 2015, the Centers for Medicare and Medicaid Services amended its agreement with co-ops, allowing them to list $2.4 billion in loans they received from taxpayers as assets.