In 2014, the Cooperative, run by former state insurance bureaucrats, booked $173.2 million in premium payments and incurred $349.4 million in claims on capital including $123.8 million in loans from the federal government. That alone should indicate at least two things: the money to repay the American people does not exist and the millions in salaries and perks for Cooperative management was ill-spent and probably fraudulently so.
"The same people who have been regulating health insurance into the ground in Kentucky in recent years sucked up massive federal loans for the ill-fated Kentucky Health Cooperative debacle, creating a trail of victims along the way," said Kentucky Progress publisher David Adams. "They deserve open hearings in Congress and fair trials before being frog-marched off to prison."
