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Obama Official: The Obamacare "Bailout" Of Insurers Will Be Financed By A New Tax On Everyone's Plan
Forbes ^ | June 19, 2014 | By Dr. Scott Gottlieb

Posted on 06/19/2014 6:39:48 AM PDT by Oldeconomybuyer

For months, there have been assertions that the mechanisms embedded in Obamacare, designed to offset losses that insurance companies will take this year on their exchange business, amount to a bailout of the insurance industry.

At the same time, it wasn’t clear where the money to pay for these “risk adjustments” would come from in the first place.

Now we know where the “bailout” money is going to come from. It will be paid for by a new tax levied on the insurance companies.

Since Obamacare health plans were prevented from pricing products to reflect true risk, they were always going to have atypically high cost, and in turn, losses. The red ink was inevitable. Now all of us will be forced to pay for it, whether we have an Obamacare plan or not. That new tax will be passed onto everyone in the form of higher premiums.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: 0carenightmare; failure; obamacareinsurers; obamacarerinocare; obamacaretax; singlepayer; socialism
FORWARD COMRADES!
1 posted on 06/19/2014 6:39:49 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer


right into The DITCH!!!




2 posted on 06/19/2014 6:43:50 AM PDT by MeshugeMikey ( "Never, never, never give up". Winston Churchill)
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To: Oldeconomybuyer

Ahh yes, charge everyone more to bail out the insurance companies who are going to provide nothing in the way of medical recompense until we also pay two to three times the premium costs as out of pocket expenses. Wow! What a deal.

Down with the kenyan tyrant and his national socialist party!


3 posted on 06/19/2014 6:46:12 AM PDT by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: Oldeconomybuyer

bttt


4 posted on 06/19/2014 6:46:13 AM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: Oldeconomybuyer

I hope obama voters simply love it.


5 posted on 06/19/2014 6:46:49 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
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To: Oldeconomybuyer

Taxes solve everything! /s


6 posted on 06/19/2014 6:47:50 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Oldeconomybuyer

Obamacare literally changes by the day.

This has gone from crazy to insane.


7 posted on 06/19/2014 6:48:24 AM PDT by Starboard
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To: Oldeconomybuyer

“Affordable” Care Act.

$2,500 per year savings for the average family.


8 posted on 06/19/2014 6:50:40 AM PDT by kevkrom (I'm not an unreasonable man... well, actually, I am. But hear me out anyway.)
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To: Starboard

sounds like that “surcharge” called uninsured motorist fund on our car insurance policies. I questioned this to my agent, he didn’t really have an answer but agreed with me on the point of it. I asked, if you are required to have insurance then why do we need to have this surcharge? I told him that I could get the quote, print my card, cancel my policy, especially if the uninsured motorist fund would pay for any damage I create.


9 posted on 06/19/2014 6:52:51 AM PDT by Cyclone59 (Where are we going, and what's with the handbasket?)
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To: Oldeconomybuyer

From the article...

Mandy Cohen, the Acting Administrator of the Centers for Medicare and Medicare Service’s Center for Consumer Information and Insurance Oversight, delivered that message yesterday. Cohen was testifying before the House Subcommittee on Economic Growth, Job Creation and Regulatory Affairs. She said that if funding for the risk corridors can’t be financed off the money that gets clawed away from profitable insurers (therefore allowing the entire scheme to remain budget neutral) then CMS has the authority, if not the intention to impose additional “user fees” on all health insurers to cover the higher losses experienced by the Obamacare plans.


Who didn’t see this coming from the regime? Laws? We don need no stinkin’ laws! Eat your peas...and pay your 0CommieCare taxes!!


10 posted on 06/19/2014 6:53:44 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: Oldeconomybuyer

They’re going to pay for ObamaCare with a tax on ObamaCare? Perhaps I’m missing something but it’s hard to see how that helps (except in the communist sense of redistributing wealth).


11 posted on 06/19/2014 6:59:57 AM PDT by Pollster1 ("Shall not be infringed" is unambiguous.)
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To: Oldeconomybuyer

Remember, once the govt. starts bailing out the insurance companies then we have a de-facto single payer plan which the insurance companies become nothing more than administrators of and premiums are nothing more than taxes to pay for it.


12 posted on 06/19/2014 6:59:58 AM PDT by circlecity
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To: Oldeconomybuyer
Come on comrades! We're bringing in millions of Obama-voting Guatemalans who need you to pay for their health care. Do it for "the children".

We "can't wait" for this guy to become one of the members of the Fortune 500.

 photo 3b5ba2d3-cc62-4bd8-bbb4-0a05fe235694_zpsaa20df01.jpg

13 posted on 06/19/2014 7:00:10 AM PDT by FlingWingFlyer (Obama's smidgens are coming home to roost.)
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To: Oldeconomybuyer
John Roberts says it is a tax and that is how it is being described.

Thanks, John!

14 posted on 06/19/2014 7:00:26 AM PDT by Gritty (The war is over. We won. - Michael Yon, Top Iraq War Correspondent, 07/21/2008)
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To: circlecity

That’s the way I see it as well. The Insurance companies are basically utilities handling the transaction between the government and the insured person, but they are not necessary to the process. They basically were left in so that it wouldn’t look like single payer, but their capital and profits are irrelevant to the operation of the system.


15 posted on 06/19/2014 7:07:26 AM PDT by babble-on
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To: Oldeconomybuyer

How can they impose a tax without congressional approval? Wait, we don’t have a congress anymore only a pen and a phone.


16 posted on 06/19/2014 7:08:08 AM PDT by anoldafvet (If you think the government is capable of taking care of you, just look at the VA.)
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To: anoldafvet

obamacare is like a toll road. self governing and self sustaining oppression.


17 posted on 06/19/2014 7:10:52 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: anoldafvet

Obamacare in of itself is illegal.
Everything from it’s passage is illegal.
I guess Congress is populated with people who are ok with a lawless president.


18 posted on 06/19/2014 7:34:12 AM PDT by Texas resident (The democrat party is the CPUSA)
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To: Texas resident

I’m confused. Insurance companies aren’t charging enough so the government is going to force them to charge us more to pay for their losses?


19 posted on 06/19/2014 8:25:11 AM PDT by EQAndyBuzz ("Heck of a reset there, Hillary")
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To: MeshugeMikey

The Federal Government is an entity that makes a mistake, and then repeats it over and over again until it becomes THE LAW OF THE LAND.


20 posted on 06/19/2014 8:26:55 AM PDT by Graewoulf (Democrats' Obamacare Socialist Health Insur. Tax violates U.S. Constitution AND Anti-Trust Law.)
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To: EQAndyBuzz

It’s in the law. The insurers are allowed to increase premiums to cover costs

Otherwise,they would not have agreed


21 posted on 06/19/2014 8:27:51 AM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: Oldeconomybuyer
But...,but....but....that's not FAIR! Insurance companies are supposed to pay the tax......not pass it on to the insured.......Waaaaaaaaahhhhhhhh, Waaaaaaaaahhhhhhhh, Waaaaaaaaaahhhhhhh*........

*the above is my interpretation of an echo heard coming from the vicinity of San Francisco.

22 posted on 06/19/2014 8:33:03 AM PDT by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: Graewoulf
EXCELLENT concise...as it GETS!! The Federal Government is an entity that makes a mistake, and then repeats it over and over again until it becomes THE LAW OF THE LAND.





imagine if you dare this DOPE...as the Executive Officer of The Land!!!

23 posted on 06/19/2014 8:37:25 AM PDT by MeshugeMikey ( "Never, never, never give up". Winston Churchill)
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