In a congressional hearing today, Henry Chao, the Deputy Chief Information Officers for the Centers for Medicare and Medicaid Services, told Rep Cory Gardner (R-Co.) that 30-40 percent of Obamacare's Marketplace—the federal insurance exchange system that covers 36 states—has not been built yet.
One of the systems that hasn't been built, apparently, is payment processing.
"We still have to build the payment systems to make payments to issuers in January," Chao said, referring to the insurance companies that issue policies.
That…seems like it might be an important element of the exchange.
Watch the clip below (the relevant portion starts around 3:15):
This isn't the first time Chao has said that much of the federal exchange system still needs to be built. In previous testimony, he also said that the law's reinsurance system, which backstops insurers, has not been completed.