Here are five things to know:
1. The co-op program was funded with $2.5 billion in 2010. Twelve of the original 23 federally-financed co-ops have already collapsed.
2. Data compiled by The Daily Caller News Foundation based on the co-op 2015 annual reports suggests eight are likely to default and only four of them will be in business by year’s end.
3. CMS officials have refused to identify the eight “at risk” co-ops, but the annual reports identify those facing grave financial problems.
4. The co-ops with the most losses in 2015 were in Massachusetts, Oregon, Ohio, Connecticut, Montana, Wisconsin, Illinois and New Mexico. All eight burned through about 50 percent of their total assets in 2015.
5. The co-ops aimed to provide affordable health insurance for people earning approximately 400 percent of the federal poverty level.
More articles on coding, billing & collections:
New York law targeting surprise billing yields positive results — 5 things to know
American Academy of Family Physicians pushes CMS to add new rules to ACOs — 5 insights
Consumer education lacking for health insurance marketplace purchases in Texas — 4 points
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
