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And you still don't know the true cost. Sixteen states didn't expand Medicaid coverage so you're only seeing about 2/3 of the cost. Couple that with all the delays and special circumstances and the cost would be considerably higher.
Yup. That cadillac tax (40%) got pushed out and that will be a big hit to the budget this year.
In 2014, the White House tried to avert that disaster by promising insurers a taxpayer-funded bailout, but public outrage and quick action by Sen. Marco Rubio put a stop to it.
Yes, Marco Rubio (wrote and promoted a bill that) repealed the taxpayer bailout, but wasn't the bailout written into Obamacare originally and therefore was planned long before 2014?
In 2014, the White House tried to avert that disaster by promising insurers a taxpayer-funded bailout, but public outrage and quick action by Sen. Marco Rubio put a stop to it.
Yes, Marco Rubio (wrote and promoted a bill that) repealed the taxpayer bailout, but wasn't the bailout written into Obamacare originally and therefore was planned long before 2014?
yes it was written into Obamacare. The monies collected by HHS by those insurers that didn't have losses was put into a fund.
Only the fund doesn't have enough money to pay out the claims by those insurers that lost money.
Insurers are asking for $2.8 billion and HHS only collected $362 million.
More lost money than made money and the kitty is dry.
Remember after Obamacare passed everyone except individuals got off the hook from paying their fair share
HHS: Bailing out Obamacare insurers an 'obligation' of the federal government | Washington Examiner
The Department of Health and Human Services attempted to reassure private insurers on Thursday that they'll be able to recover losses from participating in Obamacare by claiming it was an "obligation" of the U.S. government to bail them out.
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Under the program, which runs from 2014 through 2016, the federal government is to collect money from health insurers doing better than expected and use those funds to provide a federal backstop to other insurers who incur larger than expected losses from rising medical claims.
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For the 2014 benefit year, insurers losing more than expected asked for $2.87 billion in government payments through the risk corridors program, but HHS only collected $362 million from insurers performing better than expected.
In 2014, the White House tried to avert that disaster by promising insurers a taxpayer-funded bailout, but public outrage and quick action by Sen. Marco Rubio put a stop to it.
Yes, Marco Rubio (wrote and promoted a bill that) repealed the taxpayer bailout, but wasn't the bailout written into Obamacare originally and therefore was planned long before 2014?
yes, and thank god Rubio saved the tax payer lots of money and stopped the tax payer bailout. I'm already paying way too much (more than before) for the "affordable" <sarcasm> screwing.
The CMS has collected $5.5 billion from insurance companies for reinsurance, and will collect another $1 billion later this year. After adding in $1.7 billion in unused reinsurance funds from last year, the CMS has $8.2 billion at its disposal for the program. However, $500 million of that total is required by law to go to the U.S. Treasury as an operating expense, giving the agency a final total of $7.7 billion.
The CMS paid out $7.9 billion under the reinsurance program last year for the 2014 benefit year. Just three California insurers—Anthem, Blue Shield of California and Kaiser Permanente—raked in more than $1 billion of reinsurance payments combined.
That is what a fiat-currency is for, corrupt and insane politicians have the ability to put in place program after worthless program..................this is one of the many ways Scumiticians gain more and more and more power/control over the populace.
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