Thursday, May 15, 2014

$474 Million Down the Hopper for 4 Failed Obamacare State Exchanges ..AND GROWING (auto-on audio)

Nearly half a billion dollars in federal money has been spent developing four state Obamacare exchanges that are now in shambles — and the final price tag for salvaging them may go sharply higher.
Each of the states — Massachusetts, Oregon, Nevada and Maryland — embraced Obamacare, and each underperformed. All have come under scathing criticism and now face months of uncertainty as they rush to rebuild their systems or transition to the federal exchange.
The federal government is caught between writing still more exorbitant checks to give them a second chance at creating viable exchanges of their own or, for a lesser although not inexpensive sum, adding still more states to HealthCare.gov. The federal system is already serving 36 states, far more than originally anticipated.
As for the contractors involved, which have borne most of the blame for the exchange debacles, a few continue to insist that fixes are possible. Others are braced for possible legal action or waiting to hear if now-tainted contracts will be terminated.
The $474 million spent by these four states includes the cost that officials have publicly detailed to date. It climbs further if states like Minnesota and Hawaii, which have suffered similarly dysfunctional exchanges, are added.
Their totals are just a fraction of the $4.698 billion that the nonpartisan Kaiser Family Foundation calculates the federal government has approved for states since 2011 to help them determine whether to create their own exchanges and to assist in doing so. Still, the amount of money that now appears wasted is prompting calls for far greater accountability.
Read the rest of the story HERE.

Oops .. THERE's MORE:

Surprise: Another State’s About to Give Its Obamacare Exchange the Kiss of Death:
Well that didn’t take long. It’s almost like Obamacare state exchanges are dropping like flies, and there’s one more that might become a “stumbling block” on the road to Glitchcare’s implementation. 
From the Associated Press: 
The chief executive of Hawaii’s largest health insurance company is calling on Hawaii to shut down its beleaguered health insurance exchange, which was set up as part of President Barack Obama’s signature health care law.
Read the rest HERE.

If you like what you see, please "Like" us on Facebook either here or here. Please follow us on Twitter here.


1 comment:

Anonymous said...

Couldn't we have just paid for people who didn't have healthcare to get covered with all that money? I read that we spend $10,000 per person so far, for all the people who have signed up. I would laugh, but it's not funny.

-Martha