Affordable! Sustainable! All lies, huh? This time, it’s that these co-ops had assets, when they were actually loans.
Co-ops created under Obamacare reported net assets despite losing millions because they used an accounting trick approved by the Centers for Medicare and Medicaid Services.
Tax filings for 18 co-ops, including nine that collapsed in 2015, also revealed that co-op CEOs were paid handsomely before many had to shut down.