The failures of a dozen nonprofit health insurance plans created by the Affordable Care Act could cost the government up to $1.2 billion, according to a harsh new congressional report that concludes federal officials ignored early warnings about the plans’s fragility and moved in too late as problems arose.
The report, released Thursday by a Senate investigations panel, says that the bulk of those loans are unlikely ever to be recovered, with some plans unable to pay “a substantial amount of money” they still owe doctors and hospitals for members’ care.
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