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GAO: Laws Broken in Implementation of ObamaCare

from PIA Western Alliance

The Government Accountability Office (GAO) said the Obama administration broke the law in implementing the Transitional Reinsurance Program. It's the program — that — for the first three years of the program helped insurers with losses suffered in the exchanges. This is the last year. The goal of the reinsurance program is to stabilize rates, keep them down and keep insurers in the game. As Congress wrote the Affordable Care Act, in 2014 the Department of Health and Human Services (HHS) was to collect $10 billion from insurers. HHS was then told to figure out a system to distribute the money back to insurers to help them with losses. It was also instructed to collect another $2 billion to send to the U.S. Treasury. more

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