Saturday, March 9, 2013

Crony Capitalism - Obama Friend Received $340 MIllon


Obama friend, fmr. leader of Soros-funded group, receives $340 million to run ObamaCare exchanges

Life Site News

Congress has opened an inquiry into the eligibility of President Obama’s close friend Sara Horowitz and her embattled health insurance company to receive $340 million in taxpayer-funded loans.

Horowitz, a former labor lawyer and community organizer, heads the Freelancers’ Union and the related Freelancers’ Insurance Company (FIC).

Despite the name, the Freelancers’ Union is not a union. It is the parent organization of Horowitz’s for-profit health insurance company, which serves 200,000+ customers, mostly freelancers who are ineligible for benefits through their employers.

FIC has been rated the “worst” insurer in New York for the past two years by state regulators, and has weathered numerous public relations and customer service crises since it launched in 2008. The company is so unpopular it has spawned its own hate blog, “Upset Freelancers’ Union Members,” where those who buy their healthcare from FIC meet to complain, strategize, and give each other tips on how to navigate labyrinthine restrictions and try to get results from the notoriously frustrating customer service hotline.

In 2011, the New York State Insurance Department ranked FIC dead last in customer satisfaction among insurers. Despite its relatively small size, FIC had the most complaints of all the state’s insurance providers. Last year, FIC again ranked “worst” in complaints. The National Association of Insurance Commissioners says FIC’s complaint rate is more than seven times the national average.

In half the complaints lodged against FIC by its customers, the insurance department ruled that “the health insurer did not comply with statutory or contractual obligations.”

None of this stopped the Obama administration from handing Horowitz a $340 million loan from the American taxpayers to start ObamaCare health care cooperatives.



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