Millionaires are qualifying for Obamacare subsidies meant to assist low-income Americans who are unable to afford health care, thanks to a flaw in the law.
Carolyn McClanahan, a financial adviser and medical doctor in Florida, told CNBC she has advised at least five of her millionaire clients to enroll in health care plans under the Affordable Care Act because their taxable incomes make them eligible for government subsidies.
Those clients, McClanahan said, each have a net worth ranging from $1 million to $3 million.
Essentially, what you've got is a system where the government is handing out an income support benefit without determining whether or not somebody has assets.
, The Heritage Foundation
