Feds Will Struggle to Recoup Loans to Failed Obamacare Co-Ops

[rangerrebew]

 Feds Will Struggle to Recoup Loans to Failed Obamacare Co-Ops
Posted By Ali Meyer On August 10, 2016 @ 5:00 am In Issues | No Comments

The federal government is unlikely to recover all of the taxpayer funds lent to failed Obamacare co-ops, according to an audit by the inspector general for the Department of Health and Human Services.

The 23 co-ops that were created under Obamacare received $2.4 billion in taxpayer funds from the Centers for Medicare and Medicaid Services, of which $358 million were designated for “startup” loans.

The startup loans were to be repaid within five years, as opposed to other loans that were to be repaid within 15 years.


Article printed from Washington Free Beacon: http://freebeacon.com

URL to article: http://freebeacon.com/issues/feds-will-struggle-to-recoup-coop-loans/

[rangerrebew]

If we remember our history, Mr. Johnathon Gruber and the commiecrats knew Obamacare would fail.  So why did they structure loans this way?  To protect the American consumer?  Of course not.  That money slid under a table somewhere.

[geronl]

It was another pay out to the well-connected