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'Luxurious' funding lets Obamacare co-op undercut commercial rivals

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New York's Health Republic nonprofit health insurance co-op can offer cheaper policies and undercut its commercial rivals, thanks to “luxurious” federal subsidies Daniel T. McGowan, Health Republic's former president and CEO, attributed the low rates to “a very luxurious kind of backing” from the federal government. That backing is a $174 million tax-free loan from the U.S. Department of Health...

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