obamacare at crossroads as insurance co-ops set to be abandoned

AMOUNT OF LOAN PROVIDED BY THE FEDERAL GOVERNMENT TO SET UP THE HEALTHCARE INSURANCE CO OPS

A new breed of health insurers created under the Obama Affordable Care Act — was intended to create non-profit insurers is  on its last legs now ,with several of the ventures forced to close down around the  country. President Obama's much vaunted Obamacare — is on shaky financial ground in many of the 23 states where the plans began.

The nonprofit health plans were envisioned as a consumer-friendly counterweight to for-profit insurers, a way to provide more competition, greater consumer choice and better coverage in markets typically dominated by big commercial carriers. The government allocated billions of dollars in loans for them, Insurance co ops under health law received $1.17billion  in federal loans , which the government said its  working on recouping the funds