Amazing, isn’t it. These two billionaire brothers are practically responsible for the Teaparty Movement, convincing poor and apparently ill-informed Americans that having healthcare is a bad thing. Yet, according to Senate Leader Harry Reid and the Associated Press, these same billionaires are benefiting nicely from the same healthcare they are set against – Obamacare.
From the Associated Press;
Senate Majority Leader Harry Reid, D-Nev., renewed his criticisms of the Kochs this week. In a Senate chamber speech, Reid noted that Koch Industries benefited from a temporary provision of the health care law.
The Early Retiree Reinsurance Program, Reid said, “helped the company pay health insurance costs for its retirees who are not covered by Medicare.” Reid asked sarcastically: “So it’s OK for Koch Industries to save money through Obamacare” even as Koch-related groups seek the law’s repeal.
When Congress enacted the health care law in 2010, it appropriated $5 billion for the temporary reinsurance program. The goal was to subsidize employers’ costs for workers who retire before they become eligible for Medicare. Hundreds of employers applied – many were corporations, cities and public universities – and virtually all the money was soon distributed.
“If the Affordable Care Act is so awful,” Reid asked, “why did Koch Industries use it to their advantage?”
Federal records show that Koch Industries received $1.4 million in early retiree subsidies. That’s considerably less than the sums many other employers received. A Koch Industries spokesman said he had no comment on Reid’s latest criticisms.
