Your ObamaCare Fail of the Day
I dunno -- today's ObamaCare fail might just prove to be a great big win.
A nonprofit health insurer in Maryland is suing the federal government to avoid more than $22 million in fees under an ObamaCare program that the group calls “dangerously flawed.”
The first-of-its-kind lawsuit targets the Obama administration’s strategy for protecting health insurers from losses in the new marketplace.
In a lawsuit filed Monday, Evergreen Health Cooperative Inc. warned the program could “threaten the viability of the entire Affordable Care Act" if it is not fundamentally altered.
Evergreen Health, a nonprofit co-op, said it has been unfairly asked to pay millions of dollars — about one-quarter of its 2014 premiums revenue – under the law’s “risk adjustment” program.
Under the program, states collect money from better-performing insurers, like Evergreen, to pay companies that have racked up higher-than-expected medical costs.
But Peter Beilenson, Evergreen's CEO, argued the program uses an unfair formula that “tilts the field” in favor of larger, more-established companies over newer startups like the co-op programs.
Beilenson is a proponent of single payer, so my sympathies for his suffering at the hands of Big Government go only so far.
The real issue here though is that Beilenson is shocked, shocked that the big insurance companies which helped to craft ObamaCare are taking money from little co-ops with zero pull in Washington.
That Means It's Working™