OP
- May 30, 2008
- 4,654
- 3,740
- Thread Starter
- #316
ObamaCare Turns 6 — $55 Billion In Waste, So Far
Insurance Co-Ops: So far, 12 of 23 non-profit insurance co-ops established by ObamaCare have failed.
State-run exchanges: ObamaCare awarded a total of more than $5 billion in grants for states to set up state-run exchanges. About $729 million went to dozens of states that decided against building an exchange; $778 million went to exchanges that have since failed — which means $1.5 billion was simply flushed down the drain.
Healthcare.gov: After spending more than $2 billion to construct Healthcare.gov, it failed at launch and is still unfinished. Although it was supposed to be self-financed, Obama wants an additional $535 million to keep it running next year.
Insurance bailouts: This year, the Obama administration announced that it was diverting $3.5 billion meant for the Treasury to insurance companies to help cover losses suffered from ObamaCare. Republicans think this might be illegal, but in any case, it’s money that wouldn’t have been spent if not for ObamaCare.
Improper subsidies: A report from the Senate Homeland Security and Government Affairs Committee found that by June 2015, ObamaCare had handed out $750 million in subsidies to more than half a million people who weren’t eligible for coverage when they couldn’t verify their citizenship status.
IRS costs: Because ObamaCare relies so heavily on the IRS to implement its massively complicated insurance subsidy scheme and insurance mandate penalties, the IRS had to spend$881 million to get systems and personnel in place to handle the job.
Paperwork burdens: An analysis by the American Action Forum concluded that businesses and individuals have spent 165 million hours to comply with ObamaCare’s 106 new regulations. In dollar terms, that works out to $45 billion.
Insurance Co-Ops: So far, 12 of 23 non-profit insurance co-ops established by ObamaCare have failed.
State-run exchanges: ObamaCare awarded a total of more than $5 billion in grants for states to set up state-run exchanges. About $729 million went to dozens of states that decided against building an exchange; $778 million went to exchanges that have since failed — which means $1.5 billion was simply flushed down the drain.
Healthcare.gov: After spending more than $2 billion to construct Healthcare.gov, it failed at launch and is still unfinished. Although it was supposed to be self-financed, Obama wants an additional $535 million to keep it running next year.
Insurance bailouts: This year, the Obama administration announced that it was diverting $3.5 billion meant for the Treasury to insurance companies to help cover losses suffered from ObamaCare. Republicans think this might be illegal, but in any case, it’s money that wouldn’t have been spent if not for ObamaCare.
Improper subsidies: A report from the Senate Homeland Security and Government Affairs Committee found that by June 2015, ObamaCare had handed out $750 million in subsidies to more than half a million people who weren’t eligible for coverage when they couldn’t verify their citizenship status.
IRS costs: Because ObamaCare relies so heavily on the IRS to implement its massively complicated insurance subsidy scheme and insurance mandate penalties, the IRS had to spend$881 million to get systems and personnel in place to handle the job.
Paperwork burdens: An analysis by the American Action Forum concluded that businesses and individuals have spent 165 million hours to comply with ObamaCare’s 106 new regulations. In dollar terms, that works out to $45 billion.
