Skip to comments.Will Republicans Fight Obamacare's Illegal Insurance Company Bailout?
Posted on 05/20/2014 1:01:15 PM PDT by JSDude1
Seeking to minimize the pain caused by his signature domestic accomplishment, President Obama has flagrantly rewritten Obamacare numerous times since it was first enacted in 2010. And unless Republicans make a stand this September, Obama will flagrantly break the law again, this time costing American taxpayers billions in illegal insurance company bailouts.
This past October, millions of Americans began receiving cancellation notices from their health insurance companies informing them that, despite Obama's crystal clear promise to the contrary, they would not be able to keep their current health insurance plan. Politifact would go on to label this broken Obama promise the Lie of the Year.
But, if insurance companies, as a group, all price their insurance premiums too low (to gain market share for example), then nobody would pay into the fund. Then, when insurance companies try to make claims on the program, there would be no insurance company funds to pay them. Taxpayers would be on the hook. That would be a taxpayer bailout.
Recognizing this threat to taxpayer funds, Sen. Marco Rubio (R-FL) introduced legislation that same month that eliminated the risk corridor program entirely. After Rep. Tim Griffin (R-AR) introduced similar legislation in the House, the government agency in charge of running the risk corridor program, the Centers for Medicare and Medicaid Services, issued a proposed rule limiting payments out of the program to what insurance companies had previously paid in.
This caused panic among insurance companies, prompting the industries lead lobbyist, America's Health Insurance Plans, to issue a letter to CMS demanding, "Risk corridors should be operated without the constraint of budget neutrality." And by "operated without the constraint of budget neutrality" what the insurance industry really meant is they want a taxpayer bailout guarantee.
Big Insurance is in the pockets of too many Pubbies. No way they are getting in between them and this money.
This thing ain’t gonna end until the Single Payer Monster eats them alive.
What a huge stinking mess. Like everything else this admin touches.
The RINOs are invested in Obamacare. The massive contributions received by the official GOP from the insurance industry. So, they will quietly support the bailout behind the scenes, which will be accomplished by Executive Order. This will give them the heaven-sent opportunity to pretend to be against it and to blame Obama for creating a system that needs such drastic financial support from the taxpayers, all the while their major contributors will not only make money, but will avoid the makeover that repeal of this heinous legislation ... Obamacare ... already put them through.
Meantime, the Republican Establishment is making money, which is their major concern.
I think that was the point from the beginning...
Boehner and Cantor Impeachment Documentation File for multiple Derelictions of Duty by House Speaker John Boehner and Majority Leader Eric Cantor for repeated refusals to apply Constitutional Checks and Balances on the frequent spending violations by the Obama Administration, during the past 4 years.
The looming 2014 Impeachments of Boehner and Cantor may also include the charges of Collusion and Bribery, pending additional documentation by Journalists, or Judicial Watch.
This is an easy one. No.
What is this “illegal” thing you speak of? We have a living breathing definition of “illegal” now and it doesn’t mean “illegal” any more. It’s more an English “Her Majesty’s Pleasure” type of thing.
No because they are probably extorting them for their own benefit.
What I have been hearing from the lib lowlifes is that they are going to get what operation they need from Obamacare and then just bow out. Will just stop premium payments and probably shine the huge co-pays for the operations. The lib lowlifes are the biggest sleeze balls when it comes to all of the government money wasting schemes. Just one more reason the whole thing will fail by next January. It will be interesting to see how the IRS will overload trying to track down their own kind who are cheating.