Nevada ObamaCare co-op to close, as anticipated

You read it here first.

In July a Louisiana ObamaCare insurer closed, and I asked whether this could happen in Nevada next. Nevada Health Co-op got a $66 million federal loan to enter the market, but, according to The American Spectator, it lost $20 million this past year.

Today the R-J reports that Nevada Health Co-op will close on Dec. 31. Its customer will have to find another insurer by Jan. 1.

Here is a clip from that American Spectator article:

Nevada health co-op has another problem in addition to sky-high salaries, nepotism. Nevada Health CO-OP is top-heavy with members of the long-troubled UNITE HERE union, which represents casino workers in the state and has been accused of corruption by other union officials.

Tom Zumtobell, the co-op’s CEO, received $414,000 in 2013. He is a former UNITE Here vice president and lives in Reno, 450 miles from the co-op’s Las Vegas headquarters. Kathy Silver received $377,000 as the co-op’s treasurer. Silver is the former board president of the local UNITE HERE chapter.

Bobbette Bond, the co-op’s secretary, hauled in $222,000. She was UNITE HERE’s chief lobbyist. Her husband is Donald “D” Taylor, UNITE HERE’s national president and a director of the co-op.

The Co-op’s website today reports:

The Board of Directors of the Nevada Health CO-OP has voted to cease operations beginning January 1, 2016 due to market conditions. At the same time, the Board voted to continue serving members through the end of the year to protect the health insurance of its current membership. Since the closure is voluntary, it should have minimal impact to members and providers.

“It is with deep sadness that based on challenging market conditions, the Board made a painful decision to wind down operations of the Nevada co-op at the end of this year,” said CO-OP Member and Board Director Stacey Hatfield. “Rather than spending resources on next year’s uncertain market, we would rather make sure we protect our current members. This is all about providing the most affordable, effective health insurance and service possible.”

That was no mention of whether that federal loan would be repaid.

12 comments on “Nevada ObamaCare co-op to close, as anticipated

  1. Winston Smith says:

    Just another step along the way to single-payer, as planned…

  2. Yeah that Obamacare sure is working well huh?

  3. Just like Solyndra and the stimulus spending.

  4. Steve says:

    This was the only insurer, on who listed my wife’s doctor, so now she wont be able to keep her doctor?
    Guess we will find out, unless I find employment that offers spousal coverage before open enrollment begins.

    Solyundra was in the news today, what a surprise. Hairy Weed’s solar babies are liars.

  5. Nyp says:

    Yawn x2

  6. Steve says:

    Yup, you libs couldn’t give one shit about people…all you libs care about is power and control. Then you expect people to be grateful when you force them to spend money in ways they would have otherwise not chosen to spend.
    Said it, previously, had there been no ACA, My wife would have had coverage though I would have opted to not take out health insurance on myself. And in that case, we would not now be looking at losing covered access to her doctor.

    Thanks a LOT, yawn.

  7. Nyp says:

    And you would have had no health insurance

  8. Steve says:

    OH! The horror! I never use it!

  9. Vernon Clayson says:

    BFF of Harry Reid always get some big paydays, he boasts of his hardscrabble days growing up, guess he thinks there’s no one enduring financial strain now. These programs last as long as the grant money lasts. If they were so wonderful private enterprise would have taken them on.

  10. […] salaries paid to executives with ties to a union that represents casino workers. The co-op in 2013 paid more than $1 million to just three executives. That might be one place to start looking for a way to recoup taxpayer […]

  11. […] salaries paid to executives with ties to a union that represents casino workers. The co-op in 2013 paid more than $1 million to just three […]

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