Posted on 05/31/2015 6:06:25 AM PDT by VitacoreVision
State ObamaCare exchanges are fast running out of cash because of higher-than-expected costs and lower-than-expected enrollment. In an attempt to keep their heads above water, many exchanges are considering combining some of their operations with those of other states — a tactic that may prove as difficult as setting up the exchanges in the first place and that raises the specter of fully nationalized health insurance.
The Obama administration, under the terms of the Affordable Care Act (ACA), disbursed about $5 billion in subsidies to states to get their exchanges up and running. After that, the exchanges were supposed to be self-sufficient. The law set a deadline of the end of 2015 for that to occur; but the administration, as is its wont, pushed that deadline back a year when it became clear that the exchanges couldn’t meet it.
According to the Washington Post, about half the exchanges are financially troubled. Vermont’s exchange, for example, is expected to cost $200 million to run this year; California’s is facing an $80 million deficit. Some exchanges, such as Oregon’s, have already folded; Hawaii’s is close to doing so. Others, such as Nevada’s and New Mexico’s, are still officially operating but relying on Healthcare.gov to enroll their residents. Still others are trying to stave off the inevitable by raising fees on exchange plans and cutting other services.
Full Story:
(Excerpt) Read more at thenewamerican.com ...
. . . because merging two or more nearly bankrupt companies has worked out so well?
So 3 or 4 operations who each lose money and are controlled by corrupt political systems will make money when they combine efforts and resources? This sounds like an economic theory preached by Professor Rachel Maddow, or Professor Jon Stewart, or Professor Bill Mahr.
When gov’t is involved, the way to lose more money is to make the program bigger.
Their end intention is to “merge” with your 401Ks, IRAs, Roth IRAs, and your HSAS...
Take five guys in debt up to their eyebrows.
Put them all in one room.
What do you have?
Five guys in debt up to their eyebrows.
This was conceived by a committee somewhere.
That would be Professor Irwin Corey...
Can there be multi-state risk pools?
Bingo! You got that right and it is already been suggested the Government seize the accounts already. Maybe this is the reason!
California’s is facing an $80 million deficit.
Can’t be true the state has been ran by all those smart and honest democrats for years.
It won’t be long before they seize your house, car, bank accounts and anything else that has an account or number - just because you cashed your paycheck for cash in a Kroger store. Structuring.... God forbid you transfer cash via Western Union or Wells Fargo to somebody. Unless it’s going to Mexico. Then it will be just fine.
Maybe that’s the way to go. Purchase some land in South America, change your name to Juan Pablo Alverez and a wire your savings via western union.
Hell All the Mexicans are here...
Merging is not legal
if they merge they will no longer be state exchanges
What’s stopped them changing portions of the law at this point?
This is almost beyond belief!
Using stats from this web site:
http://kff.org/other/state-indicator/marketplace-enrollees-by-metal-level-2014/#
Approximately 2 million people were enrolled in obamacare in state exchanges (and a measly 8 million TOTAL nationwide, but that’s another pathetic obamacare failure story).
Dividing 2 million into 5 billion yields $2,500.00 per person just to set up 24 web sites that each sell a single product to 2 million people total, though over half the sites have less than 50,000 customers!
On top of that, it’s costing hundreds of millions of dollars to operate these 24 websites?
WTF???????
Gee, whodda thunk?
“My question is why didn’t they join forces in the development of the exchanges? The software has got to look very close to the same from state to state. I know there are a lot of out-of-work software developers, but it’s just plain moronic not to have collaborated on the exchanges from the beginning.”
That’s exactly what I’ve been wondering. Why re-create the wheel from scratch 50 times? I would think the feds would create the software and give it to the states to modify slightly.
I was an avionics software engineer and the lack of planning done with the Obamacare sites is mind-boggling.
Yet, knowing how liberals think they are so much smarter than everyone else, it makes sense. In a small community in the Sierras where we had a cabin, a group of liberals took over the water board, figuring they could fix everything themselves without consulting with anyone on prior boards and ignored detailed suggestions by 2 local engineers (who happened to be conservatives). A loan of $1 million later, and they fixed a few feet of pipe and replaced a tank that had just been re-coated 2 years previous and would have lasted another 40 years. What they promised for the money and didn’t deliver was replacing a 2nd tank, one that actually leaked, putting in a SCADA system with automated leak detection, and replacing many more feet of pipe. They mismanaged the whole project, gave jobs to their friends, lied about the ‘progress’, and are now patting themselves on the back.
Obamacare is pretty much run the same way. I called the water project Pondocare - little did I know how right i was.
Why didn’t they hire whoever designed the Amazon site? Healthcare.gov is so simplistic, it is embarrassing to look at it. It looks like a high school project.
First they steal all the taxpayer money, then they continue the scam. Criminals all.
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