The 10th Co-Op Created Under Obamacare Has Collapsed, Leaving Nearly 50,000 Consumers

A 10th co-op created under Obamacare has collapsed. Combined, the failed nonprofit insurance companies have received more than $1 billion in loans, with more than 600,000 consumers affected. The latest casualty, the Utah Insurance Department, announced yesterday that Arches Health Plan, a consumer-oriented and operated plan, or co-op, will not sell insurance in 2016. The co-op received $89.7 million in loans from the federal government.