(DCNF)—A scathing new Government Accountability Office (GAO) report identified rampant fraud and systemic failures in the Affordable Care Act (ACA) marketplace just as Congress is battling over the future of Obamacare’s enhanced premium subsidies.
The report, released Wednesday, revealed that fictitious identities, invalid Social Security numbers, and even deceased individuals were easily approved for taxpayer-funded subsidies. Every single application investigators submitted using fabricated or invalid Social Security numbers in 2024 was approved for coverage.
“Republicans have sounded the alarm on the flawed structural integrity of Obamacare and how Democrats’ failed policies to temporarily prop up the program have exacerbated fraud, hurt patients, increased the burden on American taxpayers,” Rep. Brett Guthrie (R-KY), chairman of the Energy and Commerce Committee and one of the members who requested the GAO investigation, said in a statement.
“The concerning findings from GAO’s report further confirm that Republican efforts to strengthen, secure, and sustain our federal health programs are critical and necessary to ensure access to quality health care at prices Americans can afford,” Guthrie added.
The month-long government shutdown that ended just before Thanksgiving stemmed largely from Democrats’ refusal to budge on the expiring Obamacare premium subsidies, which they passed without a single Republican vote in 2021 and set to expire at the end of 2025.
Those subsidies were originally limited to households earning between 100% and 400% of the federal poverty level. However, Democrats removed the upper-income cap and increased the subsidy amounts, and in some cases reduced premiums to zero.
Fraud is especially widespread among enrollees reporting incomes between 100% and 150% of the federal poverty level, who qualify for zero-premium plans. Critics say zero-premium plans create opportunities for bad actors to sign up unsuspecting victims without their knowledge.
In nine states, the number of sign-ups at that income level exceeded the number of eligible residents, according to a joint report from the Foundation for Government Accountability and the Paragon Health Institute.
GAO’s undercover investigation found that 100% of the fictitious applications it submitted were approved in late 2024, and 18 out of 20 fake applicants were still receiving subsidized coverage for 2025. ACA marketplaces approved coverage even when no documents were requested, or fake documents were submitted, including those related to the applicants’ citizenship status.
The government watchdog also uncovered 66,000 Social Security numbers with more than a year’s worth of subsidized coverage in 2024, including one number used for the equivalent of 71 years of coverage — in a single plan year.
Centers for Medicare & Medicaid Services (CMS), which manages the ACA marketplace, does not block new applications using the same Social Security number, according to the report.
Additionally, 58,000 SSNs receiving benefits in 2023 matched Social Security death data, resulting in $94 million in taxpayer-funded subsidies being sent to health insurers on behalf of deceased individuals.
“For years, we were told we could keep our plan, keep our doctor, and premiums would go down. None of it happened,” Judiciary Committee Chairman Jim Jordan said in a statement. “This new report confirms what we already knew: under Obamacare, hardworking Americans saw their premiums skyrocket and their healthcare choices shrink, all while fraud benefited insurance companies.”
CMS did not respond to the Daily Caller News Foundation’s request for comment.
Democrats, meanwhile, warn that without extending the expanded subsidies, millions of Americans will face steep premium hikes and loss of coverage.
ACA premiums are projected to rise by 20% on average in 2026, but Paragon’s earlier analysis found that the expiring subsidy would account for just 3.3% of those premiums. The group also found that Obamacare plan premiums have grown nearly twice as fast as employer-sponsored plans since the ACA took effect.
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Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.