The report, angered Democrats on the committee, who refused to take part in Feb. 5 hearing, and stormed out after expressing their disdain.
"As much as the majority would like to manufacture a scandal," said Rep. Jackie Speier, D-Calif., "there simply isn't one. There is no smoking gun. This is no Solyndra."
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Still, Republicans grilled Freelancers Union Executive Director Sara Horowitz about whether her group profited from sponsoring the launch of the three new Health Republic co-ops in Oregon, New York and New Jersey. Combined, the start-ups received $340 million in taxpayer-funded loans.
"We did everything we said we would do to help these co-ops launch successfully and to move them quickly to self-sufficiency. And it worked," said Horowitz, defending her group's role. "When we see the other problems with exchanges—those were problems. We launched on time and on budget."
Back in Newark, N.J., Health Republic's Martin told CNBC that state insurance regulators signed off on Health Republic's launch, finding no improprieties. He chalked up the hearing fireworks to Washington politics.
"I know the number of attempts to derail the Affordable Care Act," he said.
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Now, he is more focused on trying to sign up new members in March, during the last month of open enrollment. He's confident Health Republic will be financially sustainable in the long term, but admits the botched HealthCare.gov rollout has meant a slow start to enrollment.
"We are not seeing the first-time enrollees that was part of our target audience and part of the target segment for the Affordable Care Act. Whether they're the group that's waiting until the end of March—I'm not sure," he said.
Health Republic of New Jersey is not alone. Massachussetts' Minuteman Health has notably struggled, signing up fewer than 600 members in the first four months of enrollment, as the Bay State's Obamacare exchange has been plagued by technical issues.
But a handful of the new co-ops have seen strong numbers in the first few months of open enrollment. Health Republic of New York garnered 16 percent market share on New York's exchange in its first three months, nearly as much as the state's largest commercial insurer Empire Blue Cross. Colorado's HealthOP captured 10 percent of the Centennial State's exchange market, while in Nebraska and Iowa CoOpportunity Health signed up 35,000 people between October and December.
Under Obamacare the co-ops have some time to try to get it right. The plans have five years to repay the initial start-up funding, and up to 15 years to pay back solvency loans.
—By CNBC's Bertha Coombs. Follow her on Twitter