Obamacare News Blog

ObamaCare Awards $1.2 Bil to British Company for Exchange

ObamaCare has awarded $1.2 to the British company, Serco, to help set up the Health Insurance Exchange (HIX). This award to the British company will be spread over 5 years.

The new ObamaCare “metal” plans known as the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan offer federal subsidies for those making between 100 -400% of the Federal Poverty Line.

Serco will help “sift applications for health insurance and tax credits under the new health care law” according to the NY Times. Serco is no newcomer to working with state and federal governments, as they have worked with intelligence agencies, the Defense Department, manage air traffic control in 11 states, and review applications for visas for the State Department. However, Serco has no experience working in an exchange.

The Obama Administration has made promises that spending federal money on health care will save taxpayers money. This is a two-fold savings because spending money on preventive care saves not only lives but the high cost of emergency/hospital care, and will also create revenue (according to Colorado’s Exchange each $1 spent will bring in $2 in revenue) because it will be spent in the States.

The Government Accountability Office found that the Obama administration has already spent $394 million on contracts to establish federal insurance exchanges. One of these companies is a subsidiary of a Canadian company, the CGI group received $88 Mil.

For any questions regarding the new “metal” plans call 800-930-7956 or contact Medicoverage for assistance.



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