Land of Lincoln not the only one closing down.

The state’s shutdown of its three-year-old Land of Lincoln Health was no surprise, observers say, coming amidst a nationwide trail of failures of nonprofit alternative insurers set up under the Affordable Care Act.

Those insurers faced many obstacles, but most important were two financial hits: the federal government’s reneging on hundreds of millions of dollars in subsidies promised under ACA, while at the same time demanding the struggling startups pony up hundreds of millions in other contributions required under that law.

 

 

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Read the entire article from the Chicago Sun Times here.