- In the case of three states that have called it quits relative to their own state exchange for Obama Care, Oregon received more than $300 million in Federal taxpayer money, Massachusetts received $179 million, and Maryland received a little more than $171 million.
- That’s more than $655 million in Federal taxpayer-provided money for absolutely nothing in return.
- Additionally, although it already has admitted failure relative to its exchange site, Massachusetts wants another $120 million to try again.
- But it gets worse. State managed Obama Care exchanges in Nevada, Hawaii, Vermont and Minnesota are all also failing to deliver what they were supposed to deliver, beginning last October.
- In total, Federal taxpayers have spent $834 million in just six states that collectively enrolled 270,000 people. That’s more than whopping $3,000 dollars per enrollee.
- For those costs, we would have been better to just write a check to each of them for over $3,000 and have them apply it to any insurance coverage they could find on theri own.
- As we discussed in previous posts, Oregon takes the prize for the worst. Despite spending $305 million dollars, not one person during the 2014 enrollment period was registered successfully online via Oregon’s Obama Care exchange.
- Hawaii spent almost $25,000 for every enrollee who signed up during the Obama Care enrollment period ontheir state exchange website.
- And in Colorado, the Obama Care exchange website has not come close to hitting is sign up objective, it’s managers have consistently fought against an audit attempting to track how the exchange used its millions of dollars, and in the ultimate insult, are now proposing the $13 million in user fees be assessed on the health insurance policies of state residents who do NOT get their insurance via Obama Care in order to subsidize those that do get their policies via Obama Care’s processes.
- Impact on individual market consumers: Increase premiums over a ten-year period for single coverage by an average $2,150, and for family coverage an average $5,080.
- Impact on small employers: Increase premiums over a ten-year period for single coverage by an average $2,760, and for family coverage an average $6,830.
- Impact on large employers: Increase premiums over a ten-year period for single coverage by an average $2,610, and for family coverage an average $7,130.
- Impact on Medicare Advantage beneficiaries: Increase costs $16 to $20 per member per month in 2014 and will increase to between $32 and $42 by 2023. The average expected increase in the cost of Medicare Advantage coverage over ten years is $3,590.
- Impact on Part D beneficiaries: Increase average premiums by $9 in 2014 and by $20 in 2023 for a total increase of $161 over ten years.
- Impact on Medicaid managed care beneficiaries: Increase the average costs of Medicaid coverage by about $1,530 per enrollee between 2014 and 2023.
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