During their first year of operation (2014), the 23 state-based Obamacare healthcare insurance co-ops projected they would lose a total of $23 million. How much did they actually lose?
According to a just-released federal audit, the 23 Obamacare co-ops lost a total of $376 billion in 2014, or 16 times more than they projected. This does not include the losses of the Iowa/Nebraska co-op, which was liquidated due to financial issues. The Obama administration has awarded $2.4 billion in loans to these co-ops that must be paid by taxpayers if the co-ops do not pay back the loans.