Free Republic

A $5 billion handout to states, big corporations, and Hollywood unions to subsidize health insurance for early retirees is threatening to bankrupt a major part of the year-old healthcare reform law, according to staffers of the House Energy and Commerce Committee. A small percentage of the organizations signed up for the plan has already drained more than $500 million from the program’s coffers. Like many provisions in Obamacare, the “Early Retiree Reinsurance Program” has largely escaped public scrutiny and congressional oversight. The program provides subsidies to employers and unions to cover between $15,000 and $90,000 of the healthcare costs for...