Posted on 04/22/2014 3:48:45 PM PDT by Oldeconomybuyer
After Covered California's first open enrollment period drew to a close last week, the exchange has about $363 million in federal grant funds left over to support the insurance marketplace over the next fiscal year.
Officials have predicted that the exchange will be self-sustaining by 2015, when the Affordable Care Act will stop providing federal grants to state health exchanges.
However, exchange budget statements have not included a definitive plan for how Covered California will continue funding its operations at that time, and California law prohibits using the state's general fund to pay for the exchange.
(Excerpt) Read more at californiahealthline.org ...
What is interesting is that nobody is complaining about not being able to sign up.
I heard from a friend that the California Legislative Analysts Office predicted a $50 billion shortfall for FY2014-2015 and it looks like they’re on track to do it unless they can get more payers to sign up and cover for all of the low income folks, illegal aliens, and AIDS patients who are being subsidized.
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