New Mexico Obamacare Co-op Insolvent

EXCLUSIVE: Insolvent New Mexico Obamacare Co-op Boasted Six-Figure Salaries


New Mexico Health Connections, one of the four remaining nonprofit Obamacare Co-ops, did not inform its customers in June that it was insolvent and its entire board had resigned, The Daily Caller News Foundation has learned.

It also never told its customers the nonprofit paid its executives up to $450,000 in annual salaries.

The nonprofit, one of 24 Co-op’s originally set up under Obamacare, was supposed to provide affordable health insurance to individuals, predominantly low-income citizens. The demise of the New Mexico Co-op means that only three are fully functioning.

The New Mexico Co-op boasted extraordinarily high six figure salaries per year like many other failed Obamacare nonprofits, according to a DCNF review of its 2015 tax filing Form 990 with the Internal Revenue Service.



The nonprofit’s dire financial straits were so severe its total capital and surplus were $3.5 million even after the infusion of $10 million, according to its Sept. 30 financial filings as reported by the Journal last December.

Co-op customers also weren’t informed that their insurer was insolvent and its board had resigned until after the Obamacare “open enrollment” period for 2018 had expired.