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...