Buckeye State can’t buck laws of economics as Ohio Obamacare exchange already goes bankrupt.

The problem with socialism is you eventually run out of other people’s money.

And Ohio’s Obamacare cartel just ran out of other people’s money.

Just seven years after it started, InHealth Mutual is already out of business.

“InHealth Mutual announced Thursday its 21,800 members members have 60 days to find new insurance through the federal marketplace, Columbus Business First reported.

The co-op will be liquidated by the State Department of Insurance,” The Daily Caller reports.

“Our examination of the company’s financials made it clear that the company’s losses would prevent it from paying future claims should its operations continue,” Lt. Gov. Mary Taylor told The Hill.

The 21,800 Ohioans who bought Obamacare policies will now lose their plans.

InHealth Mutual was on track to lose $20 million this year and racked up $80 million in losses in 2015.

In order to stay in business, the government-run program would have to increase premiums by 60 percent just to cover costs.

Obama promised his plan would reduce premiums by an average of $2,500 a year.

Of the 23 state exchanges created under Obamacare in 2010, 12 have already gone bankrupt.

Eight of those remaining 11 are on track to go out of business this year.

The co-ops were created with $2.5 billion in taxpayer-funded loans.

Obama promised the money would be paid back, but so far, $1.2 billion of that amount has been written off as losses and will likely never be paid back.

The start-up funding was supposed to be enough to last 20 years.

But socialism always fails, and Obamacare is no exception.

“The co-ops with the most losses in 2015 were in Massachusetts, Oregon, Ohio, Connecticut, Montana, Wisconsin, Illinois and New Mexico. All eight burned through about 50 percent of their total assets in 2015. The assets were supposed to last for 20 years under the terms of the federal funding program,” The Daily Caller reports.

The utter failure of Obamacare, just six years into the program, could devastate local hospitals.

“In some states like New York, hospitals and doctors are facing hundreds of millions in losses that will not be covered by the assets of the failed co-op, Health Republic of New York,” The Daily Caller reports.