It Turns Out That Not-For-Profit Healthcare Doesn't Work Nearly As Well As PPACA Supporters Hoped

This is from California Healthline.  Hat tip: Ryan Kennedy:

Largest U.S. Co-Op Health Plan To Fold, Fourth To Close This Year 

Health Republic Insurance of New York, the largest cooperative health plan in the U.S., has been ordered to shut down as it nears insolvency, affecting hundreds of thousands of enrollees' coverage, the Washington Post reports. ... 

Co-ops were created under the Affordable Care Act to offer lower prices and compete with large insurers (Goldstein, Washington Post, 9/25). 

An HHS Office of the Inspector General audit released earlier this year found co-op plans were facing financial difficulties and experiencing low enrollment. 

According to the audit, 22 of 23 co-ops operated at a loss in 2014. The report found 13 of 23 co-ops fell short of enrollment goals (HHS OIG audit, July 2015). ...