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ObamaCare Cash Awarded to Administration’s Political Allies

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posted on May, 23 2012 @ 02:05 PM
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Breitbart Article
by Dr. Susan Berry
ObamaCare Cash Awarded to Administration’s Political Allies
 



With ObamaCare ready to get gutted by the Supreme Court, it's seems a wild frenzy is taking place to hurry up and spend the mandated money for the ultimate pay-off set up.

It seems the insurance "exchanges" (for people to get health insurance) on State levels will be "CO-OP's" and will be administered by "non profit" outfits and will get loan grants (around $4 billion) from the Federal Government.

Around $1 Billion has already been "awarded" !!!

But what if the Supreme Court strikes that down ?
Will that cause a mass bankruptcy and the taxpayers get "stuck" again ?




CO-OP’s, or Consumer Operated and Oriented Plans, are the new, non-profit face of ObamaCare in the states’ “exchanges.” If ObamaCare is allowed to stand, CO-OP’s will be a step toward the “public option,” on a state level. Healthcare.gov provides a “feel-good” definition of CO-OP’s as “a new type of non-profit health insurer” that is “directed by their customers and designed to offer individuals and small businesses more affordable, consumer-friendly and high quality health insurance options.” In addition, there is considerable boasting on the part of HHS that CO-OP’s are special in that they can be mandated by the government to control waste, fraud, and abuse. Now there’s a good promo: buy your health insurance from a CO-OP, because the federal government will make sure there is no waste, fraud, and abuse.

Recall that the reason this utopian “commercial” for CO-OP plans is being pitched to “individuals and small businesses” is that, despite what President Obama told us, under ObamaCare, these sectors will no longer be able to keep their private health insurance because of the cost. Enter the “exchanges,” and the choice of a “non-profit.” Actually, CO-OP’s have five years within their inception to become “non-profit.” Any “profit” they make during the first five years must be paid toward their “loans” from the federal government. Call me cynical, but I’ll believe that if it happens.




Hot Potato already ??


This past week, the Obama administration awarded $66 million in loan grants from the controversial health care reform law’s funds to a Nevada Insurance CO-OP, known as “Hospitality Health CO-OP,” that is apparently unregistered as a business with the Nevada Secretary of State’s office. Obamacarewatcher.org, a project of Americans for Limited Government Research Foundation (ALG), is reporting that a follow-up call to the office of the Secretary of State has confirmed that “Hospitality Health CO-OP” is not registered with that office.

Healthcare.gov states that “Hospitality Health CO-OP” was sponsored by a “Taft-Hartley” union benefits plan, called the “Culinary Health Fund,” and by the “Health Services Coalition,” an organization of primarily unions and casinos. Culinary Health Fund’s parent organization, Unite Here Health, is also sponsoring the benefits plan.



"Built-in" Failure ??


Interestingly, the Obama administration initially estimated that 30-35% of the $3.8 billion in loans to CO-OP’s will default. However, according to ALG, the default rate will probably be more like 43%. Another great waste of taxpayer money.
Sounds like "Solyndra II" in the making




Where's the loan "Collateral" ??




Follow the story
ObamaCare Cash Awarded to Administration’s Political Allies


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edit on May-23-2012 by xuenchen because: (no reason given)




posted on May, 23 2012 @ 02:11 PM
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Interestingly, the Obama administration initially estimated that 30-35% of the $3.8 billion in loans to CO-OP’s will default. However, according to ALG, the default rate will probably be more like 43%. Another great waste of taxpayer money.


What the hell?

The pushed that crap on purpose for what nefarious reason?

To stick it to the tax payer and crash the system yeah cloward and piven all the way.

Meh



posted on May, 23 2012 @ 02:19 PM
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Um, let me get this straight.

The Obama administration has already given out1 billion dollars. What have we (the tax payer) gotten for that 1 billion? Co-ops, on paper or actual treatment facilities?

How do we know this money didn't go from the tax payer to a "co-op" and straight to a DNC PAC???



posted on May, 23 2012 @ 03:18 PM
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More faux outrage -- the loans have been a part from the start -- remember it was the republicans that insisted the insurance companies be involved

More cogent information from Kaiser

healthreform.kff.org...



posted on May, 23 2012 @ 03:21 PM
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Originally posted by beezzer
Um, let me get this straight.

The Obama administration has already given out1 billion dollars. What have we (the tax payer) gotten for that 1 billion? Co-ops, on paper or actual treatment facilities?

How do we know this money didn't go from the tax payer to a "co-op" and straight to a DNC PAC???


I'm confused can you tell me the difference between given out and loan. Every time I have needed a mortgage or start up money -- the bank never mentioned the word give which implies gift, words actually mean things I think I see what you are doing here.



posted on May, 23 2012 @ 03:27 PM
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Originally posted by spyder550

Originally posted by beezzer
Um, let me get this straight.

The Obama administration has already given out1 billion dollars. What have we (the tax payer) gotten for that 1 billion? Co-ops, on paper or actual treatment facilities?

How do we know this money didn't go from the tax payer to a "co-op" and straight to a DNC PAC???


I'm confused can you tell me the difference between given out and loan. Every time I have needed a mortgage or start up money -- the bank never mentioned the word give which implies gift, words actually mean things I think I see what you are doing here.
The OP already stated a similarity to Solyndra. Stop parsing.



posted on May, 23 2012 @ 10:25 PM
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reply to post by xuenchen
 


So....re-distribution of wealth strikes once again!
Under the guise of "health care for everyone"!

Little do they know....and perhaps little do they care!
"oh look, a free rainbow"...lets go chase it.
edit on 23-5-2012 by burntheships because: (no reason given)



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