ObamaCare risk fund nearly depleted, S&P warns

The Hill reports:

A key ObamaCare program intended to cushion health insurers from high costs is facing a massive cash shortage going into 2016, Standard and Poor’s said Thursday.

Under the so-called “risk corridor” program, the Obama administration charges insurers with more-than-expected profits and redistributes the money to plans with losses.

In the first two years of the healthcare law, more insurers than expected have ended up with balance sheets in the red. As a result, the risk pool now has only about $1 to cover every $10 in claims – an equation that is not likely to improve until the market stabilizes.

“We estimate that that the 2015 ACA risk corridor will be significantly underfunded, as was the case the previous year,” Standard and Poor’s analyst Deep Banerjee predicted in a report Thursday.

The great moments of ObamaCare!