Obamacare’s most loyal proponents are dropping like flies. Of the 14 states and the District of Columbia that established their own health insurance exchanges, no less than seven remain completely broken or dysfunctional. One has already been taken over by the federal government. The others may soon be.
Obamacare envisioned that states would share in the cost of the law by building and administering their own insurance exchanges — with a little federal seed money to get them started. Half a billion dollars later, the federal government is on the cusp of running exchanges in more than 40 states. Taxpayers will pay the price for these boondoggles for years to come.
Some of these exchange failures are so bad that they’ve spawned federal investigations. After flushing $248 million in federal grants down the drain, Oregon’s exchange — Cover Oregon, which was built primarily by Oracle — has yet to enroll a single person through its website. In early May, the FBI announced that state officials were being investigated for fraud. The federal Government Accountability Office has launched an investigation of its own in Oregon, too.
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