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Gov’t Finds Health Law Co-ops Awash in Red Ink
New York Times

Democrats fed up with the health insurance industry used President Barack Obama’s overhaul to create nonprofit co-ops that would compete against entrenched corporations. Taxpayers put up $2.4 billion in loans to get the co-ops going.

But a government audit out Thursday finds that co-ops are awash in red ink and many have fallen short of sign-up goals.

The inspector general of the Health and Human Services Department finds that only one out of 23 co-ops — the one in Maine — made money last year.

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