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Affordable Care Act (Obamacare)

Utah co-op health insurer lost $19.9 million in first year

A nonprofit Utah health insurer that received federal loans to get up and running lost nearly $20 million in its first year and is among co-ops around the country struggling with financial losses, according to a new audit. The U.S. Health and Human Services inspector general's office reported Thursday that all but one of the 23 co-ops around the country saw financial losses last year. A co-op in Maine was the exception. Arches Mutual Insurance Co. in Utah is among those that lost money, reporting a $19.9 million loss for 2014. The co-op insurers were created by President Barack Obama's health care law and were awarded taxpayer-backed startup loans. Arches received nearly $94...

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