Posted on 11/18/2013 3:26:41 PM PST by servo1969
This must have been one of those backroom deals we heard so much about… Stuffed inside the Obamacare law passed by Democrats (with no Republican votes) is a provision that will reimburse insurance companies up to 80% of their losses due to Obamacare. Melissa Francis reported on FOX News:
“Marco Rubio has been out highlighting the fact that there is this ‘risk corridor’ where written into this law that nobody read is this idea that is insurance companies have 3% higher costs than they estimated as a result of who’s in these pools, they can recoup 50% of that money from the government, from you and me. 8% higher than what they estimated, they can recoup 80%!… This bailout of the insurance companies is the next big thing we’ll all be talking about.”
And, here we thought Democrats hated insurance companies.
[video]
Well, Nancy Pelosi was right: they did have to pass it for us to see what was in it.
Pgh.... We be shafted again. :-(
And it’s OUR money. What would be wrong with an armed insurrection at this point? Do we not have the right to defend our country against its enemies, if those enemies happen to be politicians?
Risk Corridor has been repeatedly reported on Fox News.
Hardly “Breaking News.”
It’s “Corporate Cronyism,” the Chicago Way.
Knew that was what the big meeting was between Obama and the insurance companies last week. It’s called another bailout; Obama is glad - one step closer to a bankrupt America.
HOW THE HELL DO THEY PAY FOR THIS?
This is MILLIONS, likely more. This is our damn money!
Incredible. Crony capitalism (aka, fascism) in action.
democrats can not tie this to republicans since not one voted for it.
How is this not single payer?
Where are the Democrats getting the money for this?
lol
just kidding
What the Hell happened to this country?
Does anyone else wonder how many dollars the insurance slipped into Democrats pockets to get this little gem inserted?
It’s all about the money you know. Democrats can be bought cheap, and Pelosi has been known to sell out for almost anything.
told you obamacare was too big to fail. especially if the GOP keeps funding it. defund it period.
Likely hundreds of billions, actually, since NOBODY under 25 is going to sign up for this.
All group policies have a 2-2.5% fee, that goes to the insurance companies. This is in addition to another .5 - 1% fee (3.5%, total - for now) that’s also tacked on and goes in to various slush funds.
Actually, I thought it was 100% the first year and 80% the next two years. And NOW Obama thinks he’s got the authority to include the illegal, non-compliant, re-issued cancelled polices he’s “allowed” by illegal edict in this payback scheme. That’s the inducement he’s using to try to get the insurance companies to re-issue these illegal policies.
don’t worry their anti-business supporters have never seen a handout they didn’t like.
i like the convexity of the subsidy, the worse your estimate, the more the gov’t makes up the difference…
marx wrote that history repeats itself twice, first as tragedy and then as farce
i don’t think the collapse of hillarycare qualifies as tragedy, but obama sure has the farce aspect covered
Whether its Benghazi, EPA, IRS etc they are in harmony with the false claims and
misrepresentations about Obamacare that the White House has repeated
UNTIL actual reported computer numbers disputed their positive claims
at the State Health Exchanges.
Importantly Obama’s actions, viewed under the guise of “behavioral”
economic policy, trace the decline in Market Based Capitalist
solutions and and hail the birth of a “centrally planned” and
“directed” US economy.
Obamacare is a “public-private partnership aka PPP” and the term is a
trojan horse and surrogate for centrally planning. The genesis of the
term can be traced back to the South African Communist Party which
instructed party cadres at the fall of the Berlin Wall and USSR, to
use the new terms to distance itself from the fall of the Russian
Communist Party and its lexicon for economic management.
But no matter what we label “PPP”, its intent is to establish a
directed economy where the Central Government holds the vital cards
such as in healthcare and economic statistics.
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