By Byron York/The Examiner
Investigators for the House Energy and Commerce Committee have discovered that a little-known provision in the national health care law has allowed the federal government to pay nearly $2 billion to unions, state public employee systems, and big corporations to subsidize health coverage costs for early retirees. At the current rate of payment, the $5 billion appropriated for the program could be exhausted well before it is set to expire.
The discovery came on the eve of an oversight hearing focused on the workings of an obscure agency known as CCIO — the Center for Consumer Information and Insurance Oversight. CCIO, which is part of the Department of Health and Human Services, oversees the implementation of Section 1102 of the Affordable Care Act, which created something called the Early Retiree Reinsurance Program. The legislation called for the program to spend a total of $5 billion, beginning in June 2010 — shortly after Obamacare was passed — and ending on January 1, 2014, as the system of national health care exchanges was scheduled to go into effect.