No Obamacare Payment System? No Problem!





Photo Credit: Fresh Conservative (Creative Commons)

One of the many huge issues with the infamous healthcare.gov website, that is only now getting the notoriety it deserves, is this: There is currently no mechanism to get payments from the enrollees to the prospective insurance companies.

But, hey…no prob, bro. The insurance companies can simply submit their estimates to the Feds, who will get them the money—all to be settled up later.

Quoting from the article…

Health plans will estimate how much they are owed, and submit that estimate to the government. Once the system is built, the government and insurers can reconcile the payments made with the plan data to “true up” payments, he said.

The fix puts an additional burden on insurance companies, already taxed by having to double-check faulty enrollment data from the HealthCare.gov system.

Now, companies need to quickly put together financial management systems to make the payment estimates, so they can be paid beginning in January.

Absolutely amazing, isn’t it? Obama is so hellbent on launching this disaster that nothing will stop him. I’ll go out on a limb here and suggest that there may just be a few snags in this workaround. Any bets on which insurance carrier will drop out first?

As they used to say: Your tax dollars at work. And those of a certain age remember when this was not meant to be sarcastic.

 

Photo Credit: Fresh Conservative (Creative Commons)





Do you have $25,000 in your IRA or 401(k)? This "Loophole" in IRS Code lets you move your savings to gold ... get this NO-COST Info Guide >

Leave a Reply

  

  

  

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>