We've been told - and others have commented - that private run healthcare, operating under the principles of the free market, will deliver the best care at the lowest cost to Oregonians.
As was noted above, "“I don’t think there’s anything nefarious about the return of the capital to the shareholders.” This is the "it's legal" argument. 
But Rep. Hayward contends, “We’re believers in the free market.  On the other hand, CCOs are using state and federal taxpayer dollars. They’re not using private dollars for this care."

Shall CCO's be allowed to make a profit using taxpayer dollars? If they are not allowed, then doesn't the lack of a profit motive mean that there will not be incentive to provide better care? Or, is the incentive to provide more profit, even if it means less care?

To regulate profits, the State could use monitors. That would be taxpayer dollars to monitor corporations so they don't use too much taxpayer dollars. 

Fear has allowed the system to be rigged.