Affordable Care Act (ACA) — “Obamacare” — Co-Ops will likely never repay taxpayer money lent to them, according to an audit from the Inspector General’s office at the Department for Health and Human Services (HHS).
The investigators found that the Center for Medicare and Medicaid Services (CMS) did not account for how the federal government would recover the loans if the Co-Ops failed.
Obamacare authorized the CMS to loan money to support Consumer Operated and Oriented Plans, or Co-Ops. The Co-Ops were to be treated like startups, and repay the loans once they received business through Obamacare’s glitchy online marketplaces.
At issue is a controversial rule which let struggling Co-Ops convert their loans into “surplus notes,” meaning they did not need not make payments on the loan if they were strapped for cash.
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4 comments:
How often do we get away with not repaying the FEDERAL GOVERNMENT?
Never.
Wonder who Moochelle's college roommates are ripping off now?
Like we didn't see this coming...
Considering that there are are over 500 billion dollars of new tax hikes embedded in the Patient Protection and Affordable Care Act, and the defining reason for its passage has not been addressed then a reasonable person might conclude that the real purpose of the bill was more to raise taxes than to provide affordable Health Insurance and Health Care to the People.
We as Americans must remember that the only power government officials have is the power to exact funds (taxes) by force (tax laws) and distribute those funds according to their will and philosophy and that power under Our Constitution is delegated to them by Us. Perhaps Thomas Jefferson said it best: “To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical.”
As the ignorant keep cheering
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