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House Oversight Committee Chairman, Rep. Darrell Issa, R-Calif. (AP Photo/Molly Riley)
(Bloomberg) — A startup insurance company loaned $145 million by the government under Obamacare is running out of money and being taken over by state officials in Iowa.

The company, CoOportunity Health, which also serves Nebraska, was placed under Iowa Insurance Commissioner Nick Gerhart’s supervision this week and is no longer accepting new enrollees, according to a statement from his office. While Gerhart’s agency will operate the company for the time being, it’s urging policyholders to seek a new insurer.

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