ObamaCare’s ‘Reinsurance Program’ Runs Out of Money

Greg Scandlen
The Heartland Institute
1/19/2012

On January 1 yet another ObamaCare provision crashed and burned: the “Early Retiree Reinsurance Program” (ERRP), a $5 billion giveaway to unions, state and municipal governments, and corporations.

The idea was to encourage such entities to continue health benefits for early retirees (ages 55-64) until the wonders of ObamaCare kick in 2014. The program provided “reinsurance” of 80 percent of claims between $15,000 and $90,000.

Using the word “reinsurance” for this program is another case of Orwellian-speak by this administration. “Reinsurance” suggests the beneficiary paid a premium for the coverage. But in this case it was simply a matter of shoveling taxpayer money into the coffers of the chosen organizations.

The program began on June 1, 2010 and was supposed to last until January 1, 2014. But it turns out that getting free money was so popular that all the dough ran out by January 1, 2012—a mere 19 months. No more money will be distributed.

It will be interesting to see what happens next. Virtually all of these organizations have union contracts that require them to provide the benefits, so they are unlikely to suddenly drop the coverage…

The article continues at Heartland.org

Related: Uncle Sam Tells Americans How to Get Out of Debt

After saddling the country with as much new debt as the rest of the world combined in one year flat, one would think that Uncle Sam wouldn’t have the cojones to dish out debt advice to others. But one would be wrong. In an unwitting self-parody worthy of Froma Harrop on The Daily Show, the Federal Trade Commission has created a step-by-step web guide for Americans “Knee-Deep in Debt.”

Also, WI Gov. Scott Walker turning down $37 million for health care

Gov. Scott Walker says he will turn down $37 million from the federal government that had been awarded to help implement health care exchanges under President Barack Obama’s health care reform law.

Walker announced in December that Wisconsin would not pursue implementing the exchange until the U.S. Supreme Court rules on the constitutionality of the law…

SayAnythingBlog has more.

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