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Not only does obozo continue his tradition of breaking the
Posted on: September 30, 2016 at 12:23:08 CT
GA Tiger MU
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law (as expected) but in order to revive the hideous law he insisted on, he also has the gall to give money to the very people that the dums say are making excessive profits - in order to pimp for more votes from the eternally ignorant and stupid (typically called democrats).
This level of incompetence and gall, together, has never been equaled. Oh, and as usual the taxpayer gets screwed in all this.
Watchdog: ObamaCare program made illegal payments
By Peter Sullivan
A nonpartisan government watchdog said Thursday that the Obama administration is violating the law by directing funds in an ObamaCare program to insurers instead of to the U.S. Treasury.
Republicans, who had argued that the payments were illegal, hailed the Government Accountability Office (GAO) opinion.
At issue is ObamaCare’s so-called reinsurance program, which is designed to stabilize the market and protect against premium hikes in the early years of the healthcare law. Under the program, the government collects money from insurers and then gives it to plans with high-cost enrollees.
The reinsurance program was designed to collect $10 billion in 2014, its first year of existence, and another $2 billion that would be deposited into the Treasury.
But the program didn't bring in nearly enough money to cover those amounts. So the administration, through regulations in 2014, prioritized giving money to insurers. None of the money was given to Treasury for the first year.
The GAO ruled on Thursday that this move violated the text of the law.
“This prioritization of collections for payments to issuers over payments to the Treasury is not authorized,” the agency said.
This level of incompetence and gall, together, has never been equaled. Oh, and as usual the taxpayer gets screwed in all this.
Watchdog: ObamaCare program made illegal payments
By Peter Sullivan
A nonpartisan government watchdog said Thursday that the Obama administration is violating the law by directing funds in an ObamaCare program to insurers instead of to the U.S. Treasury.
Republicans, who had argued that the payments were illegal, hailed the Government Accountability Office (GAO) opinion.
At issue is ObamaCare’s so-called reinsurance program, which is designed to stabilize the market and protect against premium hikes in the early years of the healthcare law. Under the program, the government collects money from insurers and then gives it to plans with high-cost enrollees.
The reinsurance program was designed to collect $10 billion in 2014, its first year of existence, and another $2 billion that would be deposited into the Treasury.
But the program didn't bring in nearly enough money to cover those amounts. So the administration, through regulations in 2014, prioritized giving money to insurers. None of the money was given to Treasury for the first year.
The GAO ruled on Thursday that this move violated the text of the law.
“This prioritization of collections for payments to issuers over payments to the Treasury is not authorized,” the agency said.
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Not only does obozo continue his tradition of breaking the - GA Tiger MU - 9/30 12:23:08
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