KY Health Cooperative customers with unpaid claims were screwed long ago

The Associated Press ran a silly article over the weekend claiming the defunct Kentucky Health Cooperative is "selling assets" to "satisfy its debts." The AP should make clear, but doesn't, that the only debts that will be satisfied are federal loans and Kentuckians' unpaid claims don't make the cut.

The Cooperative reported $176.2 million in losses in 2014 alone, before losing even more money in 2015. It was created and maintained with $123.8 million in federal loans. That means unless they bought a bunch of office furniture which is now somehow worth more than $50 million more than they paid for it, any remaining unpaid claims cannot possibly be paid by "selling assets."

"If Kentucky officials had listened to me last summer, they could have ended the Cooperative charade before any more innocent Kentuckians were harmed by this ObamaCare nonsense," Kentucky Progress publisher David Adams said. "Buying ObamaCare insurance remains a crapshoot and is not worth the risk."