Speed Reads

healthcare.fail

ObamaCare website costs taxpayers $840 million so far; insurance companies raking it in

The ObamaCare website, HealthCare.gov, had already cost taxpayers some $840 million as of March of this year, according to a new report from the Government Accountability Office (GAO). Nonetheless, the website is still not complete. The GAO's director of acquisition and sourcing management, William T. Woods, will testify today about the HealthCare.gov cost report to the House Energy and Commerce Committee.

Meanwhile, a report from Bloomberg indicates that insurance companies and for-profit hospitals are making more money as a result of ObamaCare requirements, despite predictions that the law would cause their profits to take a hit. "ObamaCare's turned out to be quite good for health-care companies," said Les Funtleyder, a financial advisor. Conservative critics have long argued that one effect of ObamaCare would be to guarantee additional income to the very insurance companies the president has said prioritize greed over people.