Monday, February 25, 2013
“A health insurance company headed by an old friend from when President Obama was an Illinois state senator got a $340 million federal loan to establish Obamacare co-ops in New York, New Jersey and Oregon despite having a chronic record of consumer and regulatory complaints.. . . The New York-based Freelancers Insurance Company has been rated the "worst" insurer for two straight years by state regulators”
[Hat Tip: InstaPundit]
Please read the whole thing. But - first - I would check my supply of Milk of Magnesia. I think we're all beyond surprise and shock when stuff like this comes to light, but plain old nausea is harder to stifle.
You can read even more here where InsureBlog commented on the Freelancers' CEO giggling over her big score a couple months ago:
“It’s like venture capital for health care,” said Sara Horowitz, the group’s executive director."
Just what we need – a federal snowstorm of high-stakes venture-capital wagers, based on political calculations, not business calculations. Another wager like Solyndra.
Can I be the only one who is beginning to think that ACA functions best when used as a cover for laundering & distributing political pork?
Posted by Mike Feehan at 3:57 PM