An influx of insurers offering plans through Obamacare exchanges are taking a financial hit due to provisions in the president’s landmark health-care legislation – leading many to ask for a taxpayer bailout.
With companies facing losses much higher than initially anticipated, the Department of Health and Human Services has been unable to keep up with demands for funds from its risk-corridor program. The risk-corridor program was designed to provide funds to limit insurers’ increased costs brought on by the high claims costs seen since the implementation of the Affordable Care Act. HHS paid just $362 million in risk corridors charges– a tiny fraction of the$2.87 billion requested in 2014.
Now, the industry that once lobbied for the law’s implementation — assuming it would lead to an inpouring of new customers due to its individual and employer mandate — is hoping the American taxpayer will pick up the tab.
As noted by The Fiscal Times, Florida Republican Sen. Marco Rubio spearheaded the effort to prevent unlimited bailouts by attaching a measure to a must-pass budget bill preventing funds from being appropriated to the Obamacare program, instead having HHS dole out the funds using tax revenue brought in through Obamacare.
Ahhh poor babies, You sold us down the river to fatten your bottom line and got into bed with a marxist, now live with it. No bailout.
This is indeed our future.
Those insurers who refuse to enter into the ObamaCare exchange will have all of their insuree plans cancelled.
Those who are in the 'program' ... will fail. And the libs and Rinos will force us all (except for the uber class) on to a single payer system.
ObamaCare was always engineered to fail ... so the 'ones in power' would have complete control over our lives.
Obama and the democrats march to communism... Epic failure and all done to insure illegals..
Lets not forget that the ragheads and the politicians are exempt from Ocommiecare,
Pharmaceutical and Insurance companies are the only ones making money. For them to cry poor is an outrage. NO MORE BAIL OUTS!!!!!
This was the plan all along. Now he can put in single payer plan . He will say it just happened and blame the insurance companies. On the road to total ruin under Obama.
wow ! this is supposedly Obama's best achievement and yet no one seems to enjoy it and in spite of this there are many that want Obama for a 3rd term ,. if this don't tell you what bad shape the usa is in then I don't know what will