"The Kentucky plan lost $50 million last year, more than any other insurance co-op," the article states, "as it paid out $1.25 in claims for every dollar it collected in premiums."
As sloppy journalism seems to be the order of the day with regard to mainstream coverage of ObamaCare, no source for these data points is provided. While the $50.4 million loss of 2014 has been well-documented, the $1.25 claims/premiums ratio contradicts the co-op's own actuarial filing placed with federal authorities.
"The rate increase will positively impact the plan’s experience with the historical experience reflecting a ratio of earned premium of $173.2 million to total paid and incurred claims of $349.4 million for 2014," the co-op reported quietly to authorities in June.
Frankfort Obamacrats' may think nothing of underreporting a favorite spending entity's annual losses by more than $130 million and using the "newspaper of record" in their attempt to keep up appearances, but this is precisely the kind of behavior Kentuckians need to eradicate before it is too late.
