Posted on 06/07/2015 7:39:50 AM PDT by PROCON
After months on life support, the Hawaii Obamacare exchange will shutter operations due to the site being economically unsustainable.
The state sought more cash from the federal government - after spending more than $200 million - but when that option fell through, Hawaii had little choice but to close it down.
Fox News:
The once-highly praised Hawaii Health Connector has been “unable to generate sufficient revenues to sustain operations,” Gov. David Ige’s office said in a statement. The federal Centers for Medicaid and Medicare Services (CMS) informed the exchange last week that federal funds were no longer available to support long-term operations.
(Excerpt) Read more at americanthinker.com ...
Now you know why GOP governors who refused to set up Obamacare exchanges are now seen as the smart ones. The sites are a black hole for taxpayer dollars and anyone grounded in the reality of health insurance economics knew it.
Which begs the question:
Will these events affect the soon to come SCOTUS ruling on the ACA?
EVERYTHING 0bama touches turns to sh*t.
It may not, matter. Legal or not, Obama Deathcare will probably collapse under its own weight.
To whom did that $200 mil go to? Lou Dobbs early on complained that the insurance companies were legally entitled to compensation should individuals fail to pony up the required cash.
Just wondering who the ‘big winners’ are now that the system is collapsing.
Nobody read the Obamacare bill before it was passed, so nobody’s responsible, right?
Now, about that trade deal that nobody’s read...
lol
To those who worship him it’s all the republican governors’ fault. If they had all created the exchanges none would have failed. Facts don’t matter.
A bit off topic...
What was the final cost of the Fedzilla/obamaCare’s website?
$500 Billion seems to be a number I recall...
Take a look at the pay, bonuses and benefits of the people involved. Take a look at who they did business with and how much they paid for products and services.
Looks like more Democrat money-laundering to me.
The big winners are the corporations who allied with the Democrat Party and wrote the legislation that was shoved through the Congress and is now called Obamacare. They didn’t need to read it, either before or after it was passed because they wrote it. Insurance companies, hospital corporations, pharmaceutical companies are the winners. Not all, of course, but those who were supporters of the Democrats and who were the partners in this scheme are big winners and they have very will rewarded those politicians who enabled all of this.
This is classic Fascism in action.
Perhaps more...
Will individuals in states with failed exchanges still be held liable for fines for not signing up?
I think you're right: there's a much better chance of Obamacare collapsing under its own weight than the USSC ruling the law means what it says that "only those citizens in states with Exchanges setup can receive subsidies."
It's going to be an "interesting" June for those who pay attention to the USSC's rulings.
No, IIRC, they can just go onto the government exchange to get “affordable” healthcare; you know, just like Medicare.
Illinois’ exchange is teetering on the verge of bankruptcy. It’ll certainly go under next year when Obamacare rates spike.
I hope so! Moochers need to take care of themselves and stop stealing from those of us who work and pay the taxes in this country!
Enough's enough!
Thanks. We should definitely keep an updated list somewhere and the political party of the state governor.
Illinois doesn't have an exchange. They use the Fed run one. They did sign on to expanded medicaid which will cause further money problems for the state..
Illinois Health Benefits Exchange Law
On July 14, 2011, Governor Quinn signed Public Act 97-0142, the Illinois Health Benefits Exchange Law PDF. This legislation, effective immediately, enables Illinois to establish its own health insurance exchange for individuals and businesses with 50 or fewer employees.
Illinois still goes thru healthcare.gov. Your link may be just authorization to run a shared marketplace with the Feds.
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