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Iowa’s insurance regulator plans to shut down insurer CoOportunity Health, marking the first failure of one of the nonprofit cooperatives created under the Affordable Care Act. Iowa Insurance Commissioner Nick Gerhart, who had taken over operations of the insurer last month as it showed signs of faltering, said in a statement that he will ask for a court order of liquidation next week, and it would likely take effect on Feb. 28. The insurer doesn’t expect “additional cash inflow” until the second half of this year, and the amount owed on medical claims exceeds CoOportunity’s cash on hand, the regulator said. (Wilde Mathews, 1/23)

Iowa is pulling the plug on an experiment to have a consumer-owned cooperative sell health insurance. The state's insurance commissioner announced Friday that he would seek liquidation of CoOportunity Health, a carrier formed with $146 million in federal grants and loans under the Affordable Care Act. (Leys, 1/24)