BigGovernment– Consumers Mutual Insurance of Michigan has announced it will be winding down its operation prior to 2016, making it the twelfth Obamacare co-op to fail this year.
An FAQ on the insurer’s website reads, “[You] will need to purchase health insurance from another company prior to December 15, 2015 in order to have coverage on January 1, 2016.” Consumers are also told that, as long as they continue to pay their premiums, the co-op will handle their claims through the end of the year.
[…]
The Obamacare co-ops are non-profit insurers created to offer lower cost options to consumers on the exchange. Their rates were often among the lowest in a given state. However, those low rates turned out to be a problem when enrollment did not meet expectations or when healthcare claims exceeded expectations. more
h/t C Steven Tucker.
***And from the NYPost…
Maybe we’re better off having the neurosurgeon, and taking out the pain in the ass, Barky.
My deductible is $6,000.
What’s insurance for?
Before Obamacrap I had $200 deductible
Now that was a great policy.
Why are people so worried about getting sick?