Feds may have to write off CoOportunity loans
BPC Staff Aug 4, 2015 | 3:35 pm
1 min read time
126 wordsAll Latest News, Government Policy and Law, InsuranceThe federal government may be out more than $140 million in loans it made to the failed CoOportunity Health, according to a court filing made on Friday, the Des Moines Register reported. The company’s debts also include $3.6 million in commissions owed to insurance agencies that sold CoOportunity policies, according to a status report filed with the court. CoOportunity had assets of $108.7 million and liabilities of nearly $282.4 million as of June 30. An attorney handling the settlement for the Iowa Insurance Division told the Register that the outcome of payments in the case will depend largely on how much money CoOportunity receives from an Affordable Care Act program aimed at helping insurers recoup extra costs for taking on customers with extensive health care needs.