Re: Obamacare website cost $634 MILLION DOLLARS
posted at 10/10/2013 11:26 AM EDT
That $634 million for the exchange is the cost over the complete lifecycle of the project which is 10yrs or about $63 mil/yr.
So let's look at the comparison to:
Facebook 6yrs/$600 million = $100mil/yr
Twitter 5yrs/$360 million = $72/mil (not including $400 mill in 2011)
CMS CCIIO Healthcare Insurance Exchange IT Investment
FY2013 (CY) Spending = $63.68 M
Time frame of Investment = 2011 - 2020
This Exhibit 300 represents a summary of the current IT investments undertaken by HHS and Treasury to implement the provisions of the Patient Protection and Affordable Care Act (ACA). It includes the CMS Center for Consumer Information and Insurance Oversight (CCIIO) Healthcare Insurance Exchange (HIX) investment and a set of major and non-major IT Investments managed by Treasury and IRS that provide support for ACA. HIX provides a platform for organizing the health insurance marketplace to help consumers and small businesses shop for coverage in a way that permits easy comparison of available plan options based on price, benefits and services, and quality.
Actually the projected cost over the 10yr life cycle is $516.34 mil. or $118 mil less than the wingnut echo chamber article, which adds in Medicare spending etc.
CMS CCIIO Healthcare Insurance Exchange Federal Exchange Program System=$249.33 M
CMS CCIIO Healthcare Insurance Exchange Data Services Hub=$267.01 M
So the revised figures are:
$516.34 mil / 10 yrs = $51.634/yr
or about half of Facebook burn rate and 2/3 of twitter burn rate.
I apologize for the error.
Can one of you wingnuts check my math?