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.
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