CMS Official on Half of Obamacare Co-ops Failing: We Had 'Very Little Actual Performance Information'

During a Senate subcommittee hearing on Obamacare, Andy Slavitt, acting administrator for the Centers for Medicare and Medicaid Services (CMS), explained that there was "very limited actual performance information" for the government's co-op oversight team to evaluate the financial positions of 12 health insurance co-ops that eventually failed, a $1.2 billion loss to taxpayers.