During the Obama administration, there was a lot of scandal and mishandling of money but none that was as ange4ring as the entire Obamacare fiasco. From the start, the Obama administration botched Obamacare so bad that within days it was the laughing stock of his presidency. From website crashes to ballooning payments the American people were beginning to see how horrible this plan was and that was just the beginning.
Now, new information is coming forward that the Obama administration paid out $434 million improperly which has made the calls for a full repeal even louder.
Here is more from Washington Examiner:
The Obama administration improperly paid out $434 million to Obamacare customers to pay down the cost of insurance in 2014, the first year the law’s health insurance marketplaces went online, a federal watchdog reported Monday.
Health and Human Services’ Office of the Inspector General released a report Monday that outlined the improper payments during Obamacare’s first year.
In a review of 140 health insurance policies sold in 2014, the inspector general found that Centers for Medicare & Medicaid Services improperly paid out financial assistance payments for 26 policies.
For the other five policies, CMS authorized possibly improper financial assistance to insurers that didn’t provide the right documentation.
CMS was using an interim process for approving financial assistance payments when the exchanges first went online, before moving to an automated system in 2016. The payments in question include income-based tax credits to customers to lower premiums and cost-sharing reductions paid to the insurer to lower out-of-pocket costs for low-income customers.
Good job guys on this disaster that will take years to clean up.
