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Keyword: riskcorridor

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  • Will Republicans Fight Obamacare's Illegal Insurance Company Bailout?

    05/20/2014 1:01:15 PM PDT · by JSDude1 · 10 replies
    Townhall ^ | May 20, 2014 | Conn Carroll
    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...
  • Budget Chief Is Choice as New Health Secretary

    04/10/2014 4:27:29 PM PDT · by Nachum · 21 replies
    New York Times ^ | 4/10/14 | Michael D. Shear
    Washington - Even when Sylvia Mathews Burwell was in her early 30s, friends speculated that she might return to her native Hinton, W.Va., and run for governor someday. After all, she had been a Rhodes scholar, and her mother — who later became mayor of Hinton, pop. 2,600 — had driven her daughter’s interest in politics. So far that has not happened, but plenty of other things under two presidents have. On Friday, President Obama is to nominate Ms. Burwell, currently director of the White House Office of Management and Budget, to take over one of the largest and most...
  • Obamacare has 7.5 million sign ups, Kathleen Sebelius says

    04/10/2014 4:46:29 PM PDT · by Oldeconomybuyer · 12 replies
    CBS News ^ | April 10, 2014
    Enrollment for the president's health care law has grown to 7.5 million Americans, the Obama administration announced Thursday, handing President Barack Obama and the Democrats bigger coverage numbers to tout in the face of election-year attacks. Sebelius said she expects the figure to continue to grow. The original number already exceeded expectations, a surprise success after a disastrous roll-out and welcome news for Democrats who've been forced to defend their support for the unpopular law derided by critics as "Obamacare." Democratic senators took turns Thursday praising the robust sign-up numbers.
  • Eric Cantor tweets "Thank You" to Kathleen Sebelius

    04/10/2014 5:03:50 PM PDT · by gwgn02 · 51 replies
    Twitter ^ | 4/10/14 | Eric Cantor
    Eric Cantor ‏@GOPLeader 1h I thank Secretary Sebelius for her service. She had an impossible task: nobody can make Obamacare work.
  • BREAKING: White House Admits Democrats Will Lose the Senate

    04/10/2014 4:54:37 PM PDT · by cotton1706 · 41 replies
    redstate.com ^ | 4/10/14 | Erick Erickson
    Put another way, Kathleen Sebelius has resigned and “Senior Administration Officials” are telling the media it is because of healthcare.gov. You do not have a celebration event last week to celebrate 7 million sign ups and have Sebelius there to get credit then this week throw her under the bus because of a screw up that happened last October. They have been standing with her since last October. They stood with her when the President’s polling was nosediving and throwing her under the bus could have stopped the bleeding. They are doing so now. Sebelius actually resigned last week and...
  • Senators push bill to prevent insurance industry 'bailout' over ObamaCare

    11/20/2013 3:06:45 PM PST · by tobyhill · 17 replies
    fox news ^ | 11/20/2013 | fox news
    Warning that the latest ObamaCare "fix" could compel the federal government to bail out insurance companies, Republican senators have introduced a bill to prevent taxpayer funds from being used to prop up the industry. Sen. Marco Rubio, R-Fla., along with a half-dozen other Republican senators, introduced the "ObamaCare Taxpayer Bailout Prevention Act" on Tuesday. It would strip a provision in the Affordable Care Act pertaining to so-called "risk corridors," which could allow the government to pay insurance companies to offset financial losses. Rubio calls it a "blank check" for the industry. "The idea that the federal government should be bailing...
  • President Obama to insurers: No bailout (But the article specifically states there is a bailout)

    11/19/2013 4:40:07 AM PST · by tobyhill · 19 replies
    politico ^ | 11/19/2013 | By KYLE CHENEY and JENNIFER HABERKORN
    President Barack Obama had some bad news for the insurance company CEOs who met him at the White House: His “fix” might cost them. Obama asked the CEOs to reinstate millions of Americans’ health insurance plans that were cancelled because they fell short of coverage requirements under the law, according to two executives who attended the session Friday. The president offered the execs some sweeteners, but admitted they won’t necessarily add up to enough to cover the full brunt of added costs that the changes to the insurance market could create. The president’s proposed “fix” to the wave of plan...
  • Breaking: DEMOCRATS to REIMBURSE Insurance Companies Up to 80% on O-Care Losses (Video)

    11/18/2013 3:26:41 PM PST · by servo1969 · 110 replies
    The Gateway Pundit ^ | 11-18-2013 | Jim Hoft
    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...
  • Insurers might get bigger payments (Risk Corridor Bailout)

    11/15/2013 2:05:07 PM PST · by jimbo123 · 9 replies
    The Hill ^ | 11/15/13 | Elise Viebeck
    Health insurance companies could see higher government payments because of President Obama's administrative move to address the criticism over canceled health plans. White House spokesman Jay Carney suggested Friday that federal health officials would raise payments to insurance companies should the policy shift bring on unexpected costs. "If the costs are higher, then [the Department of Health and Human Services] can mitigate those costs with insurers," Carney said at a briefing.
  • CMS letter to state regulators on ObamaCare “fix” hints at “risk corridor” bailout for insurers

    11/15/2013 1:55:18 PM PST · by jimbo123 · 4 replies
    Hotair ^ | 11/15/13 | ALLAHPUNDIT
    Excellent catch by Chris Jacobs at Heritage. If you read the post about Rubio’s anti-bailout bill, you already know what “risk corridor” means. -snip- So are insurance company executives, of course; they’re meeting with Obama today to express their “concern.” So here’s a pot-sweetener for them from CMS in the nick of time: If they decide to un-cancel some plans and end up taking a beating financially from the adverse selection that results, Uncle Sam will be there to make everything right. I must have read three dozen blog posts yesterday wondering how O would be able to keep insurers...
  • Barack Obama says he's 'brainstorming' with insurers

    11/15/2013 1:44:41 PM PST · by jimbo123 · 55 replies
    Politico ^ | 11/15/13 | REID J. EPSTEIN
    President Barack Obama said he and health care executives will be “brainstorming” ways to fix his troubled health care law at a Roosevelt Room meeting Friday afternoon. -snip- The meeting comes a day after Obama announced health care plans that don’t meet Affordable Care Act standards could still be sold to existing individual market customers. Obama said he and other White House officials would be asking the executives for their input on how best to implement the law.
  • Rubio bill would repeal Obamacare’s insurer bailout

    11/15/2013 11:24:01 AM PST · by The Old Hoosier · 11 replies
    Conservative Intel ^ | 11/15/13 | David Freddoso
    The basic idea that for the first three years of Obamacare, the Treasury has committed to protecting against an industry-wide death spiral — and that could well occur if insurance customers continue to avoid the Obamacare exchanges...This is well worth a vote, because it will highlight the bailout provision, which most Americans aren’t aware of at all...
  • Rubio presses to repeal Obamacare provision allowing insurance industry 'bailout'

    11/15/2013 11:23:05 AM PST · by jimbo123 · 4 replies
    Wash Examiner ^ | 11/15/13 | DAVID M. DRUCKER
    Obamacare includes a provision that allows the federal government to funnel taxpayer dollars to insurers that face the prospect of losing too much money under the new health care law, and conservative critics want to repeal it. Sen. Marco Rubio, R-Fla., said the provision could amount to a bailout of the insurance industry, which stands to lose if the troubled Obamacare exchanges fail to enroll enough people to make the system financially viable. -snip- Rubio's office was circulating the bill, first reported by Politico, to other senators on Friday. “I expect we'll introduce [it] as soon as possible next week,”...
  • Rubio to introduce bill that would repeal “risk corridor” a.k.a. bailout provisions of ObamaCare

    11/15/2013 11:18:24 AM PST · by jimbo123 · 17 replies
    Hotair ^ | 11/15/13 | ALLAHPUNDIT
    Goooood politics. I’m 90 percent sure it won’t pass, but last week I would have told you I was 100 percent sure. At the rate O and his boondoggle are melting down on the Hill, there’s no down side to trying to force Democrats to vote on all sorts of bills that would chip away at parts of O-Care. Worst-case scenario: They fail but with some Democratic support, which means a rolling PR disaster for the White House and a very small margin of error going forward lest the Democratic turncoats in Congress start thinking maybe it’d be better to...
  • What do insurance companies think about health care 'fix'? [Video]

    11/15/2013 10:24:48 AM PST · by Maceman · 13 replies
    In this morning's interview Former Cigna exec seems to be cautiously optimistic about Obama's "fix" and the future of Obamacare.
  • State insurers head: Obama fix could sink health law

    11/15/2013 8:03:25 AM PST · by Cincinatus' Wife · 21 replies
    The Hill ^ | November 15, 2013 | Jonathan Easley
    President Obama’s decision to let insurers offer limited plans that do not meet ObamaCare’s requirements could sink the entire healthcare law, the head of the group representing state insurance commissioners said Friday. “It threatens the solvency of the system and it threatens to spike the cost to policyholders across the board,” said Jim Donelon, president of the National Association of Insurance Commissioners (NAIC). Donelon argued on CNN that the White House proposal is not logistically feasible and would be an administrative nightmare. He said premium prices have been set based on assumptions about what plans would be available. “The problem...
  • POLITICO Playbook (Rubio seeks to repeal "Risk Corridor" bailout provision from ACA)

    11/15/2013 6:51:46 AM PST · by jimbo123 · 13 replies
    Politico ^ | 11/15/13 | Mike Allen
    EXCLUSIVE: Sen. Marco Rubio plans to introduce legislation next week to repeal the Affordable Care Act’s “risk corridor” provision, which would give government payments to health plans with higher than expected costs. A Rubio aide: “The President's announcement … increases the likelihood of a federal bailout of insurance companies … Rubio will introduce legislation … that will ensure the Obama Administration doesn't have unaccountable blank check-writing authority … [T]he current law gives the HHS Secretary broad authority in this area with no Congressional approval/oversight. Our legislation will … protect … taxpayers from potentially having to bail out the insurance industry.”
  • Obama health law fix may cost government money (Taxpayer bailout via Risk Corridor slush fund)

    11/15/2013 6:37:01 AM PST · by jimbo123 · 10 replies
    SF Chronicle ^ | 11/14/13 | Kathleen Pender
    President Obama's decision to let people keep their existing health insurance policies through 2014, if their health insurance company continues to offer them, could end up costing the federal government money under the so-called risk corridor provision of the Affordable Care Act. -snip- It is too late to change the premiums that have been approved for 2014 to account for changes in the risk pool, says Cori Uccello, senior health fellow with the American Academy of Actuaries. However, under the risk corridor provision, "if insurers' losses exceed a certain percentage, the government will pay part of that loss." -snip- In...
  • Obama to meet with insurers Friday on Obamacare fix (Obama begs insurance companies to bail him out)

    11/15/2013 6:08:39 AM PST · by tobyhill · 93 replies
    reuters ^ | 11/15/2013 | staff
    President Barack Obama will meet on Friday with insurance industry executives to discuss changes that he has proposed to his signature healthcare law to address the outcry over insurance policy cancellations, a White House official said. The meeting comes a day after the president, under fire for the botched rollout of his top domestic policy achievement, announced he would allow individuals to keep insurance policies that were being canceled under the 2010 Affordable Care Act, widely known as Obamacare. The health law has stumbled in its early phases, first because the website designed to sign up consumers malfunctioned, and then...
  • Actual healthcare insurance expert says King Barack’s latest edit on fixing Obamacare can’t work

    11/15/2013 5:01:25 AM PST · by jmaroneps37 · 23 replies
    pjmedia.com ^ | Nov 15, 2013
    Thanks to pjmedia.com we have this comment on King Barack’s latest healthcare edit. It comes from David Oscar, the communications chair for the New Jersey Association of Health Underwriters and a partner at Altigro Financial Group. He had this to say regarding Obama’s scheme to trick low information voters with a one-year restoration of canceled plans: “I do not know how the insurance carriers and federal government are going to be dealing with this. First, many states require a 60-day notice of a change in plan or a cancellation. It’s November 15! How can they comply with this new element...
  • Rove: Administration Offering Insurers 'Bribe' to Reinstate Plans

    11/14/2013 7:32:51 PM PST · by jimbo123 · 8 replies
    Newsmax ^ | 11/14/13 | Greg Richter
    The Obama administration is offering a "thinly described illegal bribe" to entice insurance companies to reinstate plans they have canceled, GOP operative Karl Rove says. Appearing Thursday on Fox News Channel's "On the Record with Greta Van Susteren," Rove held up a three-page letter sent out Thursday by Centers for Medicare and Medicaid Services explaining that the "risk corridor program" would be expanded to help companies "ameliorate unanticipated changes in premium revenue." The problem, Rove said, is that the risk corridor program applies only to "qualified plans" under the Affordable Care Act – not to grandfathered plans. "What they're saying...
  • Obama Proposal Worries Insurers and Regulators

    11/14/2013 7:19:30 PM PST · by Oldeconomybuyer · 15 replies
    New York Times ^ | November 14, 2013 | Bt Reed Abelson
    President Obama’s effort to quiet a political uproar by suggesting on Thursday that consumers should be allowed to keep their current health plans met significant resistance from many insurers and state regulators, who said they had not been consulted in advance about the proposal, doubted it could work and feared it might seriously damage the new insurance marketplace. After the president announced the proposed changes, insurance regulators participated in a heated conference call, according to one regulator, where many expressed deep unhappiness about the proposal. Some on the call felt “the president kind of threw us under the bus today,”...
  • WHITE HOUSE SAYS WILL EXAMINE "RISK CORRIDOR" (Did Reuters pull O-Care insurance co bailout story?)

    11/14/2013 5:14:21 PM PST · by jimbo123 · 8 replies
    Chicago Tribune ^ | 11:04 a.m. CST, November 14, 2013 | Reuters
    WHITE HOUSE SAYS WILL EXAMINE "RISK CORRIDOR" PROGRAM THAT SHARES RISKS OF NEW SYSTEM WITH INSURERS TO SEE IF TWEAKS NEEDED FOR 2014 DUE TO NEW FIX
  • Insurers are furious about the White House’s new Obamacare plan (Asking for bailout!)

    11/14/2013 2:36:20 PM PST · by jimbo123 · 73 replies
    Wash Post ^ | 11/14/13 | Sarah Kliff
    Health insurance plans are not pulling any punches when it comes to their frustration with today's White House announcement. This is a statement that Karen Ignagni, president of America's Health Insurance Plans, just put out: “Making sure consumers have secure, affordable coverage is health plans' top priority. The only reason consumers are getting notices about their current coverage changing is because the ACA requires all policies to cover a broad range of benefits that go beyond what many people choose to purchase today. “Changing the rules after health plans have already met the requirements of the law could destabilize the...
  • Is the Administration Offering Insurers an Obamacare Bailout? (New guidance for Risk Corridor!)

    11/14/2013 3:02:23 PM PST · by jimbo123 · 22 replies
    The Foundry ^ | 11/14/13 | Chris Jacobs
    The Centers for Medicare and Medicaid Services (CMS) today released guidance to state insurance commissioners implementing President Obama’s “fix” for people losing their insurance. Not only does it violate the explicit text of Obamacare itself, but it also raises the possibility of insurers getting access to a new pool of bailout funds. As previously reported, the Administration’s latest plan waives many of the costly mandates included in Obamacare that are scheduled to take effect on January 1, 2014. The guidance says that these requirements will be waived—in clear violation of the text of the law—for one year for all plans...