EPIC WASTE: Gov’t Admits it Lost Track of $3 BILLION In Obamacare Subsidies

16 Jun, 2015 by Warner Todd Huston

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The federal government is really, really sorry but, gosh darn it, officials just can’t seem to find about $3 billion in Obamacare subsidies that were paid out. In fact, they admit that they don’t even have any system in place to track the money or to make sure that when it was distributed it was done so lawfully.

This is the criminal fraud that is Obamacare, folks. This is money that could have gone to real healthcare. The gov’t says that this lack of control could put taxpayer money “at risk.” Now THERE is an understatement!

The Department of Health and Human Services (HHS) Office of Inspector General (OIG) released an audit Tuesday finding that the agency did not have an internal system to ensure that subsidies went to the right enrollees, or in the correct amounts.

“[The Centers for Medicare and Medicaid Services] CMS’s internal controls did not effectively ensure the accuracy of nearly $2.8 billion in aggregate financial assistance payments made to insurance companies under the Affordable Care Act during the first four months that these payments were made,” the OIG said.

“CMS’s system of internal controls could not ensure that CMS made correct financial assistance payments,” they said.

The OIG reviewed subsidies paid to insurance companies between January and April 2014. The audit found that CMS did not have a process to “prevent or detect any possible substantial errors” in subsidy payments.

So, $3 billion has been paid out and the federal gov’t has no idea where it all went or if the spending was justified?