Uncovered: New $2 billion bailout in Obamacare | Byron York | Beltway Confidential | Washington Examiner: "Investigators for the House Energy and Commerce Committee have discovered that a little-known provision in the national health care law has allowed the federal government to pay nearly $2 billion to unions, state public employee systems, and big corporations to subsidize health coverage costs for early retirees. At the current rate of payment, the $5 billion appropriated for the program could be exhausted well before it is set to expire.
The discovery came on the eve of an oversight hearing focused on the workings of an obscure agency known as CCIO -- the Center for Consumer Information and Insurance Oversight. CCIO, which is part of the Department of Health and Human Services, oversees the implementation of Section 1102 of the Affordable Care Act, which created something called the Early Retiree Reinsurance Program. The legislation called for the program to spend a total of $5 billion, beginning in June 2010 -- shortly after Obamacare was passed -- and ending on January 1, 2014, as the system of national health care exchanges was scheduled to go into effect."
See original work for more on this and other stories.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.