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Financial Collapse of Insurance Co-op Could Cost $145.3 Million
HealthLeaders Media

The death knell has sounded for CoOportunity Health.

With a liquidation petition filed last week, the Des Moines, IA-based health insurance carrier is destined to become the first financial failure among the nearly two dozen cooperatives launched simultaneously last year with the Patient Protection and Affordable Care Act exchanges.

In a statement announcing the liquidation petition, Iowa Insurance Division (IID) officials said CoOportunity is insolvent and beyond rehabilitation. Iowa Commissioner Nick Gerhart, who obtained a court order placing the company into rehabilitation in late December, concluded that “further efforts to rehabilitate the company would be futile.”