Unsurprisingly corporations are gaming Obamacare

Unsurprisingly corporations are gaming Obamacare

Star War fans will always remember when Obi-Wan Kenobi described the spaceport Mos Eisley on the planet Tatooine as a “wretched hive of scum and villainy.”  It’s easy to recall that description when you learn about a conference occurring in Washington, DC this week known as the 340B Coalition.  “Scum and villainy” might be too strong a term to describe the conferees but “cronies and rent seekers” wouldn’t be.

The 340B Discount Drug Program is a perfect example of a government program gone wrong.  Passed in 1992 as part of the Veterans Health Care Act, the program was designed to provide discount drugs to certain health care clinics as a way of serving the poor and underprivileged.  In theory, the discounted drugs were to be offered to those in need at the discounted price.  Then ObamaCare happened.

ObamaCare included a provision dramatically expanding the number of facilities eligible for the program.  What started out as an effort to serve the poor has become a racket — an income program for wealthy investors who are using it to bilk the taxpayers.  Here’s how.

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