Somehow not covered by the insurance. We want those folks to be covered. The Insurance Program was to cover the cost in the early years. We know there may have been pent up demand. Day, it isnd of the just to capitalize the business. Dr. Cohen i think it is to keep premiums stable for consumers. You thought earlier in the year that you would be able to move payments and you found out in october that you could not. What is the reason for that . Dr. Cohen it is the math formula. It is the way the data came in from the issuers. That is the way the math worked out. 12 ,re able to pay at which is the dollars coming in, dollars going out. That is the way we are moving forward for this program. We said that we would take from last years collections and pay back. Thank you. I yield back. I now recognize mr. Yarmouth. Thank you very much. Outelp the doctor off a little bit on the background of the coops. One of the things we faced when drafting legislation was that, in certain states, the avail
These options today. Thank you, i look forward to your questions. Let me start was in questions. Many factors contributed to the failure of the coops. Lower than higher expected enrollments, restrictions on investors, risk adjustment formulas, lots of those. Let me start off. What are the top reasons the coop failed in your state . Thank you for your question. Our coop had challenges from inception, in that as the commissioner mentioned, going into a state without Provider Networks cause the company to have to lease those. There were a ministry of cost that were new to the startup, that any startup would have. But in 2014, we had disastrously low enrollment. Truly come at most, 1000 people signed up for the coop plan. Mostly because the rates were somewhat higher than the leader and the wellestablished companies in tennessee. Overcoming those challenges became extremely difficult. And is why we saw significant rate increases for 2015 and beyond because of the enrollees across the marke
Internationally respected. It had been in the Health Insurance business until the 90s when they sold off the health plan to humana. So with their credibility and their experience and expertise, i was hopeful and optimistic that we would be successful. In hindsight, it was too much into short. Of time. Plus all of the other problems described. Another five minutes. This is what i was talking about in my opening statement. The aca started in 2010. Then these coops started a couple years later, he had a couple years to get going. It was not like we were trying to stand up 22 companies all at the same time we were doing the enrollment on the website and all that. This was staggered, is that right, mr. Morrison . Yes or no will work. Mr. Morrison the awarding of the loans was staggered. That is true. So really, part of the problem is that there was no support as it went along. With that be a Fair Assessment . That is kind of what i want to talk about. The coop was initially conceived as a g
To accommodate that request from our folks. And it began doing that. The situation is dire, and we are doing everything we can to preserve the network of providers to make sure their policyholders will continue to have coverage through the end of 2015. Now state regulators have the unenviable task, as i have had, of trying to wind down a company, at the same time conserving it in my state, unlike tennessee without the protection of the Guaranty Fund to assure the Health Care Providers that their bills would be paid. Let me talk for a few minutes about our relationship we do not have minutes. Youre out of time. Heres the thing, we have one vote. He . Lso have staff, is mr. Chairman, the problem is there down to two or three minutes. I dont think they will hold open for us. With all due respect, i will invite my members to go down and vote. Unless someone wants to be very quick. Come back as quickly as possible. We should be up to reconvene in about 10 minutes. Thank you. We are joined b
We had to hold our elected officials accountable. I wanted tell you right now, with your help and gods will, we will change the direction of our country. We will break down what happened in this, the most expensive Midterm Election in history, and look ahead to what it means for the 2016 race. President obama starts making grand bargains with his Republican Senate in the next two years, he creates a situation where democratic hardy that still has many advantages going into president ial cycle, could lose some of those advantages. And we will look at Ballot Initiatives including increasing the minimum wage which one in every state it was put before voters. All that and more, coming up. Welcome to democracy now, democracynow. Org, the war and peace report. Im amy goodman. Republicans have emerged from tuesdays Midterm Elections with control of congress for the first time in eight years. In the most expensive midterm in election history, the Republican Party took control of the senate, st