More than half of ACA co-ops now out of insurance marketplaces
(WASHINGTON POST) A Michigan plan became the 12th to fail — and the ninth this fall.
More than half of the nonprofit health insurance co-ops formed through the Affordable Care Act are now off the market for the coming year, with the last-minute departure of a plan in Michigan.
On Tuesday, two days after the start of the new enrollment season in insurance exchanges created under the health-care law, the Web site of Michigan’s Consumers Mutual Insurance posted notice that it will not sell coverage for 2016.
That co-op becomes the 12th plan to fail in the past year — and the ninth this fall — out of the 23 that opened at the start of 2014. The plans have offered an alternative, consumer-oriented type of coverage that the ACA envisioned as competition for traditional health insurers.
Source: More than half of ACA co-ops now out of insurance marketplaces – The Washington Post