The federal government could be out more than $140 million by the time a defunct Iowa health-insurance cooperative’s finances are settled, a new court filing suggests.
CoOportunity Health, which was created under the Affordable Care Act, went belly up last December after losing millions of dollars. Its financing included $147 million in loans from the federal government. That money was used to launch the company in 2012 and then to keep it afloat as it sold health-insurance policies to about 110,000 people in Iowa and Nebraska.
