Since Obamacare went into effect in 2013, 11 co-ops have announced they’re winding down operations and no longer offering insurance on the state-run and federal exchange in 2016
Top Officials With Failed Obamacare Co-Ops Made an Average of $245,000
By Heritage Foundation Melissa Quinn——Bio and Archives--November 6, 2015
Before 11 of the 23 nonprofit insurers created under Obamacare announced they would be closing their doors, the top executives running their operations raked in large sums of money.
According to 2013 tax filings accessed through Guidestar.org, the top executives at the 11 co-ops that have announced they will be winding down operations made an average of $245,203 annually. Tax filings for 2014 are not yet publicly available.
The Affordable Care Act placed a $500,000 salary cap on co-op employees, and executives running the nonprofit insurers earned a high of $490,125—paid to Jerry Burgess, chief executive of Consumers’ Choice Health Insurance Cooperative in South Carolina—and a low of $46,524—paid to Joanne Hill of Colorado HealthOP in Colorado.
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