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10-01-2016 LSU Pregame

Illinois’ health law co-op among those struggling

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Illinois’ health law co-op among those struggling

CHICAGO (AP) – Illinois’ only nonprofit health insurance co-op has struggled with low enrollment and financial losses. A government audit released Thursday shows that only one of the nation’s 23 co-ops made money last year. The nonprofits were set up under the national health care overhaul as alternatives to mega-insurers. In Illinois, Land of Lincoln […]

Illinois’ health law co-op among those struggling

CHICAGO (AP) – Illinois’ only nonprofit health insurance co-op has struggled with low enrollment and financial losses.

A government audit released Thursday shows that only one of the nation’s 23 co-ops made money last year.

The nonprofits were set up under the national health care overhaul as alternatives to mega-insurers.
In Illinois, Land of Lincoln Health had projected its net income to reach $28 million for 2014. Instead, the audit found, it had a net loss of $17.7 million.

Claims expenses topped income from premiums by $7.8 million.

And Land of Lincoln’s 3,461 enrollees were less than 4 percent of the 94,249 it had expected to sign up.

Spokeswoman Janine Sheedy says the co-op has “adapted the marketplace,” now enrolled more than 50,000 members and is “on the pathway to profitability by 2016.”

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By Colin Jeffery

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