Tuesday, July 15

Chicago pilot program for Obamacare *unexpectedly* costing millions more than forecast

Cook County, which encompasses Chicago and its surrounding suburbs, made a deal with the Obama administration to get an early start on the health care law’s Medicaid expansion in 2012.

The program, called CountyCare, was touted as likely to actually make money for the city.  Yes, they thought it would make money: In 2013, state officials projected it would bring in at least $28 million by November, Crain’s reported

But totally unexpectedly, the program is actually costing millions more than original projections. The prototype cost Cook County $21 million in the first six months of operation, and the loss is expected to balloon to $63.5 million by November 30, according to the Chicago Tribune.

The cost of caring for patients has skyrocketed far above projections, partially because the newly insured are seeking more costly medical care than officials expected.

Good heavens!  The $28 million profit "officials" predicted has unexpectedly turned into a $63.5 million loss!   You gotta wonder if these "officials" graduated from the same school as the buffoons in the Commerce Department whose forecast 0.1% growth in the first quarter turned out to be a 3% loss.  Lord, are these people all terminally stupid, terminally incompetent or merely corrupt?

But don't worry, citizen:  They missed their projections because it was a small-scale program.  They'll surely hit their projections when the program covers every American!  See, it's called "economy of scale." Unfortunately it can only be understood by people who have a degree from an ivy-league university. 


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