GOP senators question exchanges' solvency

ADVERTISEMENT
"User fees will be determined based on the budgetary requirements of operating and maintaining the exchange," the lawmakers wrote to Treasury Secretary Jack LewJack LewMnuchin wants ‘clean debt-ceiling’ bill Conservative Republicans' bill seeks to take bite out of debt ceiling How Trump's Treasury chief can handle the debt ceiling like a pro MORE and Health Secretary Kathleen SebeliusKathleen SebeliusOPINION | 5 big ideas to halt America's opioid epidemic Aligning clinical and community resources improves health Sebelius on GOP healthcare plan: 'I'm not sure what the goal is here' MORE.

"The federal debt is nearly $17 trillion and the cost of the [exchange tax credits] has increased over 107 percent … To better understand whether the administration is implementing the law with federal spending in mind, please provide a detailed response to [our] questions."

The Affordable Care Act requires state insurance marketplaces, scheduled to launch on Oct. 1, to be financially self-sustaining starting in 2015.

The administration says the exchanges will open for enrollment on time. The related user fees are designed to accompany an expected flood of new policyholders for insurance companies as the individual mandate takes effect.

The letter came from Senate Finance Ranking Member Orrin HatchOrrin HatchRyan drops border-tax proposal as GOP unifies around principles Trump triggers storm with transgender ban Kerry on Trump’s military transgender ban: ‘We’re better than this’ MORE (Utah), Richard BurrRichard BurrKushner says he did not collude with Russia, had no improper contacts Dems slam Trump for 'stonewalling' oversight efforts Burr: Nunes 'created' unmasking allegations against Rice MORE (N.C.), Pat RobertsPat RobertsOvernight Healthcare: McConnell warns Senate not to block repeal debate | Insurers knock Cruz proposal | WH tries to discredit CBO | Lawmakers propose .1B NIH funding boost Trump: I’ll be ‘very angry’ if Senate doesn’t pass ObamaCare repeal bill Trump: Putin preferred Clinton in the White House MORE (Kan.), Johnny IsaksonJohnny IsaksonOvernight Finance: House votes to repeal arbitration rule | Yellen, Cohn on Trump's list for Fed chief | House passes Russia sanctions deal | GOP centrists push back on border wall funding Senators urge quotas on Canadian lumber, consultations with Congress Trump labor board nominees advance in Senate MORE (Ga.), Chuck GrassleyChuck GrassleyHow do you get lower cost drugs? Give the FDA a bigger stick GOP senator warns of 'holy hell to pay' if Trump fires Sessions GOP senator warns Trump: Panel won't take up attorney general nominee this year MORE (Iowa) and Mike EnziMike EnziLive coverage: Senate debates repealing ObamaCare Overnight Finance: House votes to repeal arbitration rule | Yellen, Cohn on Trump's list for Fed chief | House passes Russia sanctions deal | GOP centrists push back on border wall funding Senators urge quotas on Canadian lumber, consultations with Congress MORE (Wyo.).