According to Columbus Business First, the Ohio Department of Insurance will liquidate the state's InHealth Mutual co-op because it is in financial distress.
The outlet reports that $3 million in claims were being filed at InHealth Mutual every week. The company would have had to implement a 60 percent premium hike for next year to stay above water.
This marks the 13th co-op created under the Affordable Care Act that's gone out of business. Ten more are still servicing customers but their future does not appear bright.