Taxpayers will dole out nearly $10 billion more next year to help people buy Obamacare health care plans through the insurance exchanges, according to a study released Thursday that highlighted the spiraling costs of President Obama’s signature achievement.
The federal government will spend $42.6 billion to subsidize customers’ Obamacare plans, up from $32.8 billion this year, the Center for Health and Economy said, amid widespread questions over the law’s ability to survive.
Premiums for Obamacare’s benchmark plans are expected to spike an average of 22 percent next year, but under the complex law’s operations, taxpayers finance most of the costs. As a result, the average monthly government bill for each Obamacare customer will rise from $291 this year to $367 next year, the analysis found.
“That’s not sustainable,” said Rep. Kevin Brady, Texas Republican and chairman of the House Ways and Means Committee, which will have a major hand in trying to rewrite the health care law when Congress convenes next month.
Lawmakers also fear there is costly fraud in the program. The Government Accountability Office on Thursday said federal and state-run exchanges approved coverage for nine out of 12 fictitious enrollees who signed up outside of the normal enrollment period because of major live events, such as losing coverage or getting married.
http://www.washingtontimes.com/news/2016/dec/15/obamacare-subsidies-increase-by-10-billion-as-cost/
The federal government will spend $42.6 billion to subsidize customers’ Obamacare plans, up from $32.8 billion this year, the Center for Health and Economy said, amid widespread questions over the law’s ability to survive.
Premiums for Obamacare’s benchmark plans are expected to spike an average of 22 percent next year, but under the complex law’s operations, taxpayers finance most of the costs. As a result, the average monthly government bill for each Obamacare customer will rise from $291 this year to $367 next year, the analysis found.
“That’s not sustainable,” said Rep. Kevin Brady, Texas Republican and chairman of the House Ways and Means Committee, which will have a major hand in trying to rewrite the health care law when Congress convenes next month.
Lawmakers also fear there is costly fraud in the program. The Government Accountability Office on Thursday said federal and state-run exchanges approved coverage for nine out of 12 fictitious enrollees who signed up outside of the normal enrollment period because of major live events, such as losing coverage or getting married.
http://www.washingtontimes.com/news/2016/dec/15/obamacare-subsidies-increase-by-10-billion-as-cost/
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