Obama Admin Making Billions In Obamacare Subsidy Payments Without Verifying Amounts
...Obamacare’s premium subsidies are paid each month directly to insurance companies, to ease the burden of health coverage to eligible customers in the health law’s government exchanges. The payments add up: the federal government doled out almost $2.8 billion to insurers in just the first four months of 2014, when Obamacare launched.
The agency tasked with making the payments hasn’t yet made sure the calculations behind the billions are accurate. An inspector general audit of the Centers for Medicare and Medicaid Services has found that the administration did not confirm the exact amount it owed each insurer before paying up, putting the billions in federal taxpayer funds at risk.
The problem lies in HealthCare.gov’s unfinished back-end system. The portions of the website which allow insurers to communicate enrollee information with the federal government hasn’t yet been completed and was even less workable in 2014, when the outlays began....
Are Obamacare’s 22 Health Insurance Co-ops Near Financial Collapse?
Ominous signs are proliferating among 22 Obamacare health insurance co-ops of imminent financial collapses that could leave more than a million Americans without coverage, according to a Daily Caller News Foundation Investigative Group analysis.
All but one of the federally funded co-ops are experiencing accelerating net losses. President Obama’s signature health care reform program established the co-ops to provide non-profit competition to private sector health insurance providers.
Many of the 22 co-ops could soon follow an Obamacare co-op that defaulted earlier this year, suffering $163 million in operating losses in a single year. That collapse left 120,000 customers without coverage on Christmas Eve....