A prescription for fraud? GAO finds serious abuses in Obamacare exchanges
Remember when Americans were told that the Affordable Care Act (also known as Obamacare) would lower health care costs and that if you liked your doctor, you could keep her? How things have changed over the past 15 years.
Health care costs continue to rise faster than inflation and millions of Americans have discovered that their health insurance plans don't cover their chosen physician.
As the saying goes, to add insult to injury, the Government Accountability Office (GAO) recently released a severe indictment of the federal Obamacare insurance exchanges that revealed troubling fraud in the program. The GAO enrolled 24 fake applicants in the federal exchange, with 18 being approved. The annual subsidy that each "applicant" received was
That's not a huge amount, but the GAO investigation went deeper. It found that in 2023, there were 29,000 duplicate
Also, the GAO discovered that when insurance brokers submitted incorrect or false
The financial impact gets worse. In 2023 alone, the GAO found that there was no income verification on
With this lack of oversight or outright fraud, it would be beneficial to know how large the entire Obamacare exchange program is today. Data from 2024 reveal that the total cost of the subsidies in the ACA exchanges was



Who pays for your health care?
Jackson Names Alison Reed Head of Distribution
Advisor News
- The untapped potential of Qualified Longevity Annuity Contracts
- NYC's fiscal outlook on downslide over budget gaps
- Health insurance premium tax bill moving in Iowa House
- Rising health care costs drive sharp increase in retirement anxiety
- Health insurance premium tax bill moving in House
More Advisor NewsAnnuity News
- An Application for the Trademark “GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
- The forces shaping life and annuities in 2026
- Variable annuity sales surge as market confidence remains high, Wink finds
- New Allianz Life Annuity Offers Added Flexibility in Income Benefits
- How to elevate annuity discussions during tax season
More Annuity NewsHealth/Employee Benefits News
- Data on Pain and Central Nervous System Reported by Researchers at National Health Insurance Service (Unintended Consequences of Expanded Magnetic Resonance Imaging Reimbursement: A Nationwide Analysis Revealing Low Clinical Efficiency): Pain and Central Nervous System
- Studies Conducted at Harvey L. Neiman Health Policy Institute on Managed Care Recently Reported (Increasing-Yet Varying-Radiologist Workforce Attrition Across Subspecialties): Managed Care
- Researchers at University of Pittsburgh Release New Data on Insurance (Distributed fusion R-learner of heterogeneous treatment effect using distributed medicaid data): Insurance
- Brooklyn nurses lose health care for weeks despite $15M from state
- Prime Healthcare’s hospitals could soon be out-of-network for Blue Cross and Blue Shield of Illinois members
More Health/Employee Benefits NewsLife Insurance News
- Oaktree grabs control of Atlantic Coast Life Co. in blockbuster A-Cap deal
- AM Best Removes From Under Review With Developing Implications and Downgrades Credit Ratings of Banner Life Insurance Company and William Penn Life Insurance Company of New York
- The forces shaping life and annuities in 2026
- Advantage Capital Holdings, LLC and Oaktree Sign Master Transaction Agreement
- PHL Variable liquidation: Regulators, investors pivot legal fire to Nassau
More Life Insurance News