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Recipient of $341 million Obamacare CO-OP loan runs insurance company with New York's worst record of complaints

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By Doug Powers  •  February 23, 2013 03:41 PM

**Written by Doug Powers

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About a year ago Michelle wrote a column about the $4 billion slush fund for Obamacare CO-OPs. She mentioned that one of the recipients of a CO-OP loan was a company called Freelancers Union, which was started by Sara Horowitz, a woman Obama has known since his Illinois days back when TOTUS was just a gleam in his eye.

Freelancers Union, which received a $341 million tax free loan from the Obama administration, is a non-profit that owns the for-profit Freelancers Insurance, the latter of which has a dubious distinction:

The New York-based Freelancers Insurance Company has been rated the “worst” insurer for two straight years by state regulators, and data compiled by a national insurance association show an extremely high rate of consumer complaints.

I’ll say this much for the Obama administration… they don’t let little things like past performance of a company or any parent organization cloud the decision-making process when it comes to doling out taxpayer money to pals — much of which will no doubt never be repaid.

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**Written by Doug Powers

Twitter @ThePowersThatBe

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Categories: Barack Obama, Health care, New York Times, Paul Krugman