The Obama administration authorized over $400 million in improper Obamacare payments in 2014. It seems like the rush to get the system working ignored the need to do things properly. That is just part of what this Inspector General’s Office has uncovered so far. These are possibly over $500 million more potentially improper payments that still need to be investigated. That makes this a potential Billion Dollar Mistake. That is just more than a big error. Could it be that the Obama administration was willing to pay any price to make the health care system look like it was succeeding? There is also a dispute brewing between the IG’s office and Medicare/Medicaid on the method used to arrive at these figures. Here are the details.
As Written and Reported by Robert King for the 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………
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