How The Obama Administration Raided The Treasury To Pay Off Insurers

How The Obama Administration Raided The Treasury To Pay Off Insurers

This is about a raid conducted in the murky twilight of the Federal Register. It's a scheme in which the Obama administration collected less in taxes from health insurers (mostly off the Exchanges) than they were required to do under the Affordable Care Act, created a plan to pay insurers selling policies on the Exchange considerably more than originally projected, and stiffed the United States Treasury on the money it was supposed to receive from the taxes. It's a different bailout than the Risk Corridors program. That, at least, was originally authorized by statute. This is about a diversion that took place in spite of a statute that explicitly prohibited it. And the consequence of the diversion of funds was to enrich insurers and, probably, to keep more insurers selling policies on the Exchanges than would otherwise be the case.

Read the full story (long):

https://www.forbes.com/sites/theapothecary/2016/01/18/how-the-obama-administration-raided-the-treasury-to-pay-off-insurers/