A crucial system for making payments to insurers from people who enroll in that federal Obamacare marketplace has yet to be built, a senior government IT official admitted Tuesday.
The official, Henry Chao, visibly stunned Rep. Cory Gardner (R-Colo.) when he said under questioning before a House subcommittee that a significant fraction of HealthCare.gov—30 to 40 percent of it—has yet to be constructed.
"We still need to build the payments system to make the payments [to insurance companies] in January," testified Chao, deputy chief information officer of the Centers for Medicare and Medicaid Services, the federal agency that operates HealthCare.gov.So, the back-office accounting and payment system(s) aren't ready! Oh, and don't forget the security of your data is still at risk. That's not "built" either.
"That's like setting up an online bank without setting up a way to make deposits," an industry source told CNBC.
Oh, and the all of the economic, and other assumptions, of the entire ObamaCare enterprise are wrong:
- that young people will pay more to 'subsidize' the older people,
- that people will want and pay a premium for a 'one-size-fits-all' insurance plans that all include expensive bells and whistles,
- it'll bend the cost curve down,
- you'll get to keep your plan,
- you'll be able to keep your doctor
- and if you don't like it, tough, you don't have any choice thanks to big brother
- the administration has to give over 1000 waivers to big business to exempt them from the requirements of the law, (and extracting unknown political favors and democratic party campaign money),
- then they had to delay the entire employer mandate in it's entirety for one year
- the President, at the last moment, has to instruct insurance companies to NOT cancel 10s of millions of "non-compliant" insurance plans (for one year), thereby kicking the can down the road---just in time for the 2014 elections,
- you have to bribe the public with promises to look the other way with "no income verification for purposes of subsidies" (ie., promises of 'free' money!)
- Soon, the President will have to delay the individual mandate as well---which means the program in it's entirety is a bust. We might as well just repeal the whole mess.
- we defeated Germany in WWII in 3 1/2 years-- but couldn't build the big government run website in exactly the same duration,
- doctors are already leaving the profession,
- Medicare is being cut by $716 million to subsidize the program and is already causing doctors to be dropped by the likes of United Health--meaning Medicare recipients will suffer
- The net result of the law is that millions are losing coverage---not increasing coverage.