In a new blow to Obamacare, the Kentucky Health Cooperative has decided not to offer health insurance plans for 2016.
The Kentucky co-op (Consumer Oriented and Operated Plan), a nonprofit health insurer created with federal taxpayer funds under Obamacare, announced its fold on Friday.
“It is with sadness that we announce this decision,” said Kentucky Health Cooperative interim CEO Glenn Jennings in a statement. “This very difficult choice was made after much deliberation. If there were a way to avoid it and simultaneously do right by the members, providers and all others that we serve, we would do so.”
Under the 2010 Affordable Care act, 23 health exchange co-ops were created. Kentucky Health is the fifth co-op to go under.