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The Republican-controlled Congress in late 2014 stripped most of the money out of the program in a budget bill signed by President Barack Obama. This occurred a year after insurers began selling policies to millions of Americans with the expectation that the safeguard would back them up. The latest data shows the government owes insurers more than $12 billion in payments to cover losses on the insurance exchanges between 2014 and 2016.
The Trump administration argued the federal government never had power under the law to make the payments out of the CMS budget. The December 2014 budget deal confirmed that, according to the administration. Meg Murray, CEO of the Association for Community Affiliated Plans, said the government owes $627 million to about 20 of her organization’s plans. “The money would help them going forward in paying back debts or investing their plans or reducing premiums,” she said.When the Affordable Care Act was nearing its final votes, Democrats removed a controversial provision that would have set up a government-operated plan that would be a “public option” for consumers.
Lewis said that, while many factors caused the demise of the co-ops, the loss of risk-corridor money is high among them.
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