Hawaii’s $205 Million Obamacare Exchange Implodes

Despite over $205 million in federal taxpayer funding, Hawaii’s Obamacare exchange website will soon shut down.  Since its implementation, the exchange has somehow failed to become financially viable because of lower than expected Obamacare enrollment figures. With the state legislature rejecting a $28 million bailout, the website will now be unable to operate past this year.

https://www.atr.org/hawaii-s-205-million-obamacare-exchange-implodes




http://insurancenewsnet.com/oarticle/2015/05/10/insurance-exchange-sets-deadlines-in-preparation-of-ending-services.html

"Under the contingency plan, Connector functions would be transferred to the state so that the roughly 37,000 enrolled on the exchange would not lose their coverage. However, residents would have to re-enroll in healthcare.gov to ensure coverage next year.To sustain its operations, the Connector needs to enroll 70,000. The program is funded by a 2 percent fee on each policy, which is set to increase to 3.5 percent July 1."

Last edited by Common Sense (5/14/2015 10:38 am)