So, how did Obamacare end up punishing the big, bad insurance company villains? By creating a federal program to help cover their costs in the event of higher than anticipated spending—and then expanding that program at the request of the insurers following the launch of the health law’s exchanges last year.
A report released this week by the House Oversight Committee highlights how, in the months since the exchanges went online, the Obama administration has worked closely with the insurance industry, looking for policy options to assuage insurers’ financial woes and feeding talking points to insurance industry officials prior to major media appearances. And even though the administration has stated an intention to run the program in a revenue-neutral manner, the report finds it’s likely to cost taxpayers around $1 billion this year.
The House Oversight Committee also helped pull back the curtain on the Obama White House's fake-fighting the drug industry (one highlight was the president attacking drugmakers, drug lobbyists confusedly complaining behind closed doors, and Rahm Emanuel blaming it on a young speechwriter).