Saturday, March 08, 2014

"Public option" only insurer making ObamaCare sales

Governor Steve Beshear reports federally funded Kentucky Health Cooperative is the only health insurer in the state to make its projected ObamaCare sales numbers for 2014 as open enrollment nears its mandated end.

According to Beshear, the Cooperative has sold over 40,000 policies after predicting sales of 19,508. The credibility of the Governor's enrollment numbers is not very good, but in any event the Cooperative has made the most of their federal seed money and probably did outsell Anthem and Humana by a wide margin.

The Kentucky Health Cooperative is a new entity that was able to price their policies lower than their competitors thanks to a $58.8 million federal "loan" granted at their founding. It's too early to tell if the Cooperative has gained enough real customers to benefit from the horrible results of their competitors.