Illinois Obamacare plan to fold after 3-year run

Land of Lincoln Health, an Obamacare insurer that launched three years ago, is shutting down and liquidating after large financial losses.

The company's decision came after a failed petition to the federal Centers for Medicare & Medicaid Services seeking a stop on $31.8 million it owes for risk adjustment.

Land of Lincoln is among nearly two dozen co-ops created to make the Affordable Care Act more competitive.

Read more from Crain's Chicago Business.