A health insurance cooperative set up under President Obama's healthcare law is leaving New Hampshire after major losses.

Community Health Options, which is based in Maine, has said it will pull out of New Hampshire for the upcoming enrollment season so it can focus on its core business.

Health Options covered 11,581 people in New Hampshire last year. Those customers will need to select a new plan in the state's health insurance marketplace to be covered next year.

While the cooperative will continue to sell insurance in Maine, about two-thirds of the so-called co-ops created for more competition under the healthcare law have shuttered. Just eight of 23 original co-ops remain.

Sen. Kelly Ayotte, a New Hampshire Republican facing a tough re-election battle, said Health Options' exit shows the "precariousness" of the co-op program, as just one co-op will be left in the state.

"We've seen co-op insurance companies established under the [Affordable Care Act] fail across the country without any safeguards for the individuals they covered or ways to recoup taxpayer dollars," Ayotte said. "Community Health Options' exit leaves only one co-op in our state, underscoring the precariousness of this program."