Shocker: Obamacare Insurance Fund Runs Out Of Money

broken-piggy-bank-small-1

What’s that? Obamacare running over budget?

You could knock me over with a feather.

WASHINGTON (Reuters) – The Obama administration on Friday said it would stop enrolling new beneficiaries in a special $5 billion insurance program for people with pre-existing medical conditions, because of rising costs and limited funding.

The news comes a day after a top U.S. healthcare official told lawmakers on Capitol Hill that the administration is grappling with financial difficulties but determined to keep the Pre-Existing Condition Insurance Plan (PCIP) operating in 23 states and the District of Columbia through 2013.

PCIP was established in 2010 under President Barack Obama’s healthcare reform law to provide coverage for sick people unable to find it in the private insurance market. The program is designed as a bridge to January 1, 2014, when legal restrictions barring discrimination over medical conditions come into force.

The U.S. Department of Health and Human Services issued a notice on Friday saying it would suspend new enrollments beginning on Saturday to “help ensure that funds are available through 2013 to continuously cover people currently enrolled in PCIP.”

But remember, it’s the law of the land now. So suck it up, citizen. We’re fixing health insurance by making it more expensive and harder to get.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • http://nofreelunch.areavoices.com/ Kevin Flanagan

    Where is all the new supply of medical personnel going to come from?

  • banjo kid

    adding about 23 million to the insurance rolls comes at a cost , and if the hospitals would go back to being a nonprofit instead of being on the exchange where they have to satisfy the stock holders we would see cost drop . 8 dollar aspirins would be no more . it is a community thing and should be supported by the community instead of investors .Another item would be tort reform , I can not imagine the feeling of thinking you are going to be sued today or tomorrow . I can remember when hospitals had drives to get donations and you could see the red rise in the painted thermometer each day as the goal was met. It was always met until someone seen an opportunity to make a bundle . The CEO of each hospital has to answer to stock holders today and they are not the most friendly type of people to deal with .The nurses would still be paid the staff would still be paid and no money would go to someone that just invests money and does nothing else . invest in money making things instead of humanitarian things.

    • JJ

      This would then be the first Government Program that would/could be accomplished at a reduced cost. Let’s be realistic when did you ever see a government program that reduced costs for anything?

  • Richqqq

    Ya. We call it rationing.

  • RandyBoBandy

    Another liberal program broke? Shocking. Move along people, nothing to see here.

  • Rocky

    What dumba$$es voted for this? Oh, that’s right. Never mind.

  • charlestonvoice

    Maybe the Big O can reactivate his pharmaceutical biz?

    BARRY THE DOPE DEALER, is Why His School Files are Sealed
    http://chasvoice.blogspot.com/2012/08/barry-dope-dealer-is-why-his-school.html

  • http://genelalor.com Gene Lalor

    Obamacare Baloney: The Worst Is Yet to Come

    At the risk of belaboring the obvious, that Obamacare is easily the
    biggest fraud perpetrated against the American people since the Anti-Saloon
    League said Prohibition would end drunkenness, recent revelations, which are not
    as much revelatory as they are damning, demand that Obamian lies and subterfuges
    regarding Obamacare be exposed.

    Formally known as the Patient Protection and Affordable Care Act
    (PPACA), you know, that earth-changing law passed in the still of the night by
    the Democrat House of Representatives by the narrowest of margins on March 21,
    2010 without a single Republican “yea,” the law defended by then-Democrat
    Speaker of the House Nancy Pelosi as one Democrats had “to pass the so that you
    can find out what’s in it,” the law Americans were promised would radically
    reduce health care costs and effectively inaugurate a Nirvana-ish (Obama-ish)
    health care era, has already been proven to be a monumental
    failure.

    Millions of Americans understood that the PPACA, patterned after the
    socialistic British National Health Service (NHS)–which is now bankrupt and in
    process of bankrupting the British nation–was rife with major, fatal flaws from
    the outset but Democrats foisted it on the American people, anyway.

    The enormity of new taxes on the middle class required to finance
    Obamacare, gimmicks like cross subsidies, (sharing the wealth outside the tax
    code), inherent huge increases in the national deficit, outright lies regarding
    a patient’s right to keep his current doctors and the burdens imposed on all
    care-givers, harsh penalties imposed for not buying a policy, trampling on
    religious rights, and myriad other clearly immoral or unconstitutional features
    should have caused our Supreme Court to toss the PPACA into the garbage where it
    belongs.

    However, due to Supreme Court Chief Justice John Roberts’ temporary
    attack of insanity when he sided with SCOTUS’ left wingers for self-serving
    reasons last July, Obamacare is now officially the law of the land.

    Long before July, it was clear to conscious people that Obamians were
    fully aware of the PPACA’s fatal flaws and didn’t give a damn about
    them.

    Instead, they began engaging in underhanded deals, Obamacare waivers
    awarded to the president’s loyal lackies who, like most federal employees, are
    exempted from the horrors of the PPACA–and consequently increase the costs to
    everyone mandated to be covered by Obamacare.

    As of a year ago, some 1,231 companies had applied for and received
    those patronage-style waivers, approximately four million mostly labor-union
    members.

    Sucking up sure does have its rewards!

    Getting little to no play on Obama’s mainstream media are the true
    costs to be levied on the rest of us unconnected schmucks in the form of
    financial penalties, layoffs, outright firings, and states choosing to opt out
    of the Obamacare disaster. As unwieldy as it sounds, the Patient Protection and
    Affordable Care Act should be more aptly titled the “Patient Non-protective
    Un-affordable Care Farce” (PNUCF).

    How many Americans are aware . . .

    (Read
    more at http://www.genelalor.com/blog1/?p=30242.)

  • Javi Javierez Alipro

    Obama, SchiffBots, tea party retards repeat after me: The government cannot run out of money http://youtu.be/lMMNXU_p9Jk

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