Israel Braces for a Large Scale Attack
Democrats Are Trying to Destroy the Conservative Legal Community
Are We Supposed to Feel Bad for This Woman? Because She Got What...
Illegal Alien From Afghanistan on Terror Watchlist Was Released Twice Into the U.S.
Senate Republicans Issue a Warning to Chuck Schumer
Biden Campaign Caught Doing Something It Attacked Trump for Doing
Wildlife Agency Strays From Conservation With Climate-Centric Refuge Rule
In the Age of AI, One City Still Relies on Obsolete Technology to...
Biden Announces Yet Another Student Loan Bailout
LA Times Made 'Unbelievable' Mistake in OJ Simpson Obituary
Stefanik Blasts Harvard in Letter to Leadership Over 'Disgusting' Protection of Students '...
Remember How Jewish Students Were Stuck in Library During Pro-Hamas Rally? They're Suing.
Did You Hear Who Planted a Bomb at an Alabama Republican's Office?
This Poll on Latinos Is Not Good News for Biden
Kari Lake's Stance on Abortion Is Here
Tipsheet

Trainwreck: Billions Have Been Wasted On Failed Obamacare Exchanges

Andy Slavitt, Acting Administrator at the Centers for Medicare and Medicaid, told Sen. John Cornyn (R-TX) that a “fair portion” of the losses would be recovered in the event that an Obamacare exchange sank. Americans for Tax Reform feels that the “fair portion” should be close to 100 percent since the federal government doled out $5.5 billion in taxpayer dollars to help fund President Obama’s health care reform. So far, the recovery totals are “non-existent,” with hundreds of millions of dollars being misappropriated:

Advertisement

To date, recovery of the billions in wasted state exchange funds has been near non-existent, despite failed exchanges in Oregon, Hawaii, New Mexico, and Nevada costing taxpayers $733 million.

In fact, according to a recent report by the Government Accountability Office, these four states have returned ZERO dollars to the federal government, and state exchanges collectively have so far returned just $1 million.

But the waste doesn’t end there, as “working” state exchanges including Vermont, Minnesota, Maryland, and Massachusetts have each misused as much as hundreds of millions in taxpayer funds.

Further, an investigation led by House Energy and Commerce Oversight Subcommittee Chairman Tim Murphy (R-Pa.) found that federal officials were unable to provide information on the long-term sustainability of remaining exchanges, and were unable to defend the four failed state exchanges.

This investigation also raised concerns that failed exchanges may have improperly kept user fees even after transferring all functionality to the federally run Healthcare.gov.

Of all state exchange failures, the most alarming story is undoubtedly Cover Oregon. A recently uncovered email confirmed the accusations that the $305 million exchange was run by partisan political advisors focused solely on then-Governor John Kitzhaber’s 2014 reelection.

Advertisement

On top of this mess, there’s the whole other fact that premiums under Obamacare are set to spike this year. In North Carolina, health care companies, like Blue Cross and Blue Shield, might have to withdraw from the Obamacare market since five percent of their Obamacare recipients consumed $830 million in health care costs, while only receiving $75 million in premiums; that’s with the subsidy. The whole law is an abject disaster. How do we know this? The very people it’s meant to help are paying the penalty to remain uninsured…because it’s more economical for them.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement