House Oversight Committee Hearing Exposes Political Influence Peddling, Wasted Tax Funds In Obamacare Co-Ops

It's an Obamacare-inspired program that cost "only" $2 billion and has mostly escaped media attention, but that may be changing now, thanks to the House Committee on Oversight and Government Reform.

The "it" here is the Consumer Operated and Oriented Plan program, which used $2 billion in federally guaranteed loans to fund creation of 24 state-level health insurance co-ops to provide competition to private sector companies.

Washington Examiner watchdog senior investigative reporter Richard Pollock first began reporting the serious problems in the Obamacare co-op program last year.

$25 million improperly diverted

As Pollock and watchdog reporter Kelly Cohen reported, a contentious joint hearing Wednesday of two oversight panel subcommittees focused on a pair of "case studies of political influence peddling and millions of taxpayer dollars wasted."

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