Those health cooperatives set up under the Affordable Care Act are collapsing so fast  that some co-ops and small insurers “are forming a coalition to consider legal action to try to change health-law provisions they blame for their financial distress,” reports The Wall Street Journal.

Meanwhile Republicans, seizing on the failures, repeat their call  to repeal  the ACA and assert that tax dollars have been misspent.

The new coalition “wants changes to a federal formula known as risk adjustment, which takes money from plans with healthier and younger enrollees and gives it to plans with older and sicker customers to spread out financial pressures on insurers.

“The health co-ops and smaller insurers say the formula, along with another health law program that aims to offset insurers’ financial losses, is putting them out of business.”