President Obama asks for more taxpayer funding for failed Obamacare Exchanges
President Obama’s most recent budget proposal calls for an additional $535 million to help operate state health insurance exchanges established under Obamacare. This request comes after a recent report by the Government Accountability Office (GAO) which concluded over $350 million in Obamacare tax-credit overpayments will not be recovered.
Obamacare state health insurance exchanges have clearly failed. In total, 12 of the 23 exchanges created under Obamacare have failed. These failed exchanges have cost taxpayers over $1.2 billion dollars and forced the more than 717,000 people who enrolled to find new health insurance plans. For some of these people, many of them real estate agents, it is the second time they have lost their health insurance plans under Obamacare. Is it fair for the government to continue disrupting the health insurance of American citizens who liked their original plan to begin with? Is it fair to ask taxpayers for more money despite the failures?
Instead of doubling down on failed policy, Congress should repeal Obamacare altogether and start over. Any American citizen, including real estate agents, should be free to buy the kind of health insurance that’s right for them, without government interference. Congress must work to stabilize the health insurance marketplace by enacting health care reform that increases competition, lowers cost, and empowers individual choice.