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Enter Obamacare's risk corridor program which, in theory, can help a steady nascent insurance market by spreading risk among insurers. On paper, the program requires insurers who set their premiums too high to pay into a government fund. Insurers who set their premiums too low would then be able to draw from that fund. If some insurance companies pay into the fund at the same rate that others are draw out of the fund, then the program is not a taxpayer bailout.

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.

1 posted on 05/20/2014 1:01:16 PM PDT by JSDude1
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To: JSDude1

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.


2 posted on 05/20/2014 1:03:58 PM PDT by Buckeye McFrog
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To: JSDude1

What a huge stinking mess. Like everything else this admin touches.


3 posted on 05/20/2014 1:08:16 PM PDT by Attention Surplus Disorder (At no time was the Obama administration aware of what the Obama administration was doing)
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To: JSDude1
Will Republicans Fight Obamacare's Illegal Insurance Company Bailout?

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.

4 posted on 05/20/2014 1:08:47 PM PDT by Kenny Bunk (Wrong)
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To: JSDude1

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.


6 posted on 05/20/2014 1:30:28 PM PDT by Graewoulf (Democrats' Obamacare Socialist Health Insur. Tax violates U.S. Constitution AND Anti-Trust Law.)
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To: JSDude1

This is an easy one. No.


7 posted on 05/20/2014 1:32:19 PM PDT by Yogafist
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To: JSDude1

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.


8 posted on 05/20/2014 1:36:34 PM PDT by Attention Surplus Disorder (At no time was the Obama administration aware of what the Obama administration was doing)
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To: JSDude1

No because they are probably extorting them for their own benefit.


9 posted on 05/20/2014 1:42:19 PM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: JSDude1

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.


10 posted on 05/20/2014 1:47:23 PM PDT by jetson
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To: JSDude1

No.


11 posted on 05/20/2014 1:58:14 PM PDT by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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