So far, health insurance co-ops created in response to the Patient Protection and Affordable Care Act have produced mixed results.
While some have proved wildly successful, most have failed to hit their enrollment goals. The latter scenario played out disastrously in Nevada, where Nevada Health CO-OP, the only state-based insurer participating in the Silver State's PPACA insurance exchange, announced it would soon close shop due to insolvency.
Co-op CEO Pam Egan told the Las Vegas Review Journal that the problem was pretty simple. Claims were high and enrollment was low. The co-op reported losses of nearly $20 million for 2014, its first full year of operation. It reported another $22 million of losses in the first six months of 2015.
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