InvestorsHub Logo
Followers 34
Posts 14793
Boards Moderated 0
Alias Born 07/10/2003

Re: None

Thursday, 11/08/2012 11:08:04 AM

Thursday, November 08, 2012 11:08:04 AM

Post# of 481110
Governor Scott Walker Loses $38 Million Bet

SUCH A FRIGGIN INCOMPETENT

Madison – Now that President Obama has been re-elected to a second term, Obamacare appears to be here to stay. Going down in defeat with Mitt Romney was Governor Scott Walker’s bet that the nation’s overhaul of the healthcare system would not survive – for a second time.

On January 18, 2011, Gov. Scott Walker decided to turn down $38 million in federal money that was earmarked to set up healthcare exchanges in Wisconsin. The grant money was given to 10 states to become innovators in designing the best possible exchanges for the citizens of the state.

Wisconsin had the unique opportunity to become a model for other states to follow in this process, but Gov. Walker for whatever reason decided Wisconsin will not participate. The $38 million was not just handed over to Wisconsin; instead it was set aside at the U.S Treasury and made available to Wisconsin.

Scott Walker drew approximately $3 million from the grant to set up the real time Medicaid eligibility program as well as other I.T related expenditures. It is important to know that the only strings attached to the grant was that the state was to meet some required deadlines to ensure the exchange was in place by January 2014. Walker said in June:

"I have directed the Department of Health Services to notify the federal government that we will discontinue any development on a health exchange and that Wisconsin will turn down funding from the (federal) program," Walker said in a statement. "Stopping the encroachment of ObamaCare in our state, which has the potential to have a devastating impact on Wisconsin's economy, is a top priority."

Walker hedged his bet on the U.S Supreme Court decision this past summer, only to see the nation’s highest court deem the law constitutional. It was after that decision Scott Walker again thumbed his nose at Obama administration in defiance and told reporters to come talk him in November after the Presidential election -- again hoping for a Romney win.

States have a deadline of January 2013 to prove to the Federal Government that the state is ready to run the healthcare exchanges and if they cannot, the U.S Government will do it for them. We contacted the Department of Human and Health Services to get a better idea of what this means to the citizens of Wisconsin. A CMS spokesperson stated:

Even if a State decides not to operate its own Exchange, the investments made in key core areas such as IT, stakeholder consultation, program integration, still lay a solid foundation for a consumer centric marketplace for its residents and for many other States.

Consumers in every State on January 1, 2014 will have access to affordable, quality coverage on an Affordable Insurance Exchange. Whether Wisconsin’s Exchange is operated by the State or by HHS, consumers in Wisconsin will be able to shop for, select, and enroll in high-quality, affordable private health plans that fit their needs at competitive prices – the same plans that will be available to members of Congress.

Walker is now scrambling to find a way to set up the exchanges or allow the federal government to do it for the state, however, now it will be at a cost to tax payers when just months ago, the Government offered Wisconsin $38 million to cover the costs of implementation – All in the name of partisanship.

http://www.politiscoop.com/us-politics/wisconsin-politics/1613-governor-scott-walker-loses-38-million-bet.html

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.