Newsbusters: Reuters, Bloomberg Report Feds Will “Estimate” Insurer Payments In Short Term

According to Reuters and Bloomberg reports, the Administration has issued a short-term “fix” to alleviate problems surrounding the as-yet uncompleted back-end of the federal Obamacare exchange website, namely the portion that accepts payments to the insurers. Otherwise known as the most important part of the website. And what a fix it is.

Instead of receiving accurate compensation for the health plans insurers are providing, they will for now merely “estimate” how much is owed in premium subsidies, and once the program is built finally (why didn’t they start here?), the Fed and insurers will reconcile payments to the correct amount. Got it.

So now instead of having the appropriate system in place to begin with that can accept proper subsidy payments up front, the Fed is now gerry-rigging a temporary system to patch another system that doesn’t exist yet, all of a month before payments are due to insurance companies. “Eh, you owe us, uh, $10, no $12 billion, give-or-take. Let’s just call it $15 billion. Who’s counting?” But never fear. Obama says “The bottom line is this law is working, and will work into the future.” Someone seems to be mightily dense. A system that can’t even accept payment for a service can hardly be said to be working at all.

Just another bed-time story from the Greek tragedy that is Obamacare. What will tomorrow bring us?

Hat tip: Newsbusters

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About Michael Haugen

Michael Haugen is a full-spectrum conservative and recent graduate from Eastern Washington University (BS Biology). His main interests in politics and public policy center around health care, education and tax reform. He'll be returning to EWU in 2014 to complete a Master's degree in Public Administration. Follow him on Twitter: @HaugenTRA

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