Loebsack, Grassley seek investigation into CoOportunity failure

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At least two of Iowa’s members of Congress are seeking investigations into the financial collapse of the federally backed health care cooperative, CoOportunity Health, The Des Moines Register reported. Republican Sen. Chuck Grassley and Democrat U.S. Rep. Dave Loebsack have each sent letters to the Centers for Medicare and Medicaid Services to determine why the agency abruptly cut off federal money to CoOportunity last month. They also are asking for information about how much federal money went to smaller health insurance co-ops. On Jan. 23, Iowa Insurance Commissioner Nick Gerhart announced that he plans to file a petition this week to liquidate CoOportunity Health, saying in a release that medical claims exceed cash on hand, with no expectation of additional cash flow until the second half of the year.