Pre-Exisiting Condition Insurance Plan Is Going Broke

Well, half the country saw this coming. A cornerstone initiative within our new trillion dollar new health care entitlement program, which doesn’t address rising costs, is going broke.  Yet, another example of Obama’s failed domestic agenda.  We have another example of how liberalism fails – and another example why government should do things piecemeal.  According to the Associated Press today:

State officials say thousands of people with medical problems are in danger of losing coverage as the Obama administration winds down one of the earliest programs in the federal health care overhaul.

At risk is the Pre-Existing Condition Insurance Plan, a transition program that has turned into a lifeline for the so-called “uninsurables” — people with serious medical conditions who can’t get coverage elsewhere.

The health care law capped spending on the program, and now money is running out.

In a letter this week to Health and Human Services Secretary Kathleen Sebelius, state officials said they were “blindsided” and “disappointed” by a federal proposal they say would shift the risk for cost overruns to states in the waning days of the program.

HHS didn’t comment.