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A Taxpayer Bailout for ObamaCare – Insurance Companies “Too Big to Fail”


An American public already reeling from the catastrophic rollout of ObamaCare will more than likely be hearing an unfamiliar term being bandied about in the new year.

“Risk corridor” refers to a provision in the law that allows the government to “stabilize” premium costs for insurance companies during the first three years of the healthcare rollout.

If insurance companies’ “target” costs for providing healthcare has been miscalculated, the Department of Health and Human Services (HHS) will intercede on their behalf.

Syndicated columnist Charles Krauthammer illuminates the nature of that intercession. ”The insurers understand that they’re going to be completely ruined,” Krauthammer explains.

“And what’s going to happen as a result of this?

There’s only one way out, a huge government bailout of the insurers is waiting at the end of next year.”

More accurately, it will be a taxpayer-funded bailout, similar to the ones given to the banks and the car companies.

On Monday, November 25, the administration lowered the reinsurance threshold from $60,000 to $45,000.

This move will likely transfer billions of additional dollars from taxpayers to the insurance companies, even as it adds billions of dollars to the national debt.

And as Sen. Marco Rubio (R-FL) explains in a Wall Street Journal editorial, “ObamaCare’s risk corridors are designed in such an open-ended manner that the president’s action now exposes taxpayers to a bailout of the health-insurance industry if and when the law fails.”

He further explains that additional regularity rulings “have made clear that the administration views this risk-corridor authority as a blank check, requiring no further consultation or approval by Congress.”

He cites section 1342 of the Affordable Care Act, which was implemented last March.

To wit: “Regardless of the balance of payments and receipts, HHS will remit payments as required under section 1342 of the Affordable Care Act.”

Thus, for the next three years (at least), insurance companies will be “too big to fail.”

http://www.frontpagemag.com/2013/arnold-ahlert/a-taxpayer-bailout-for-obamacare/

EIGHT WAYS TO OPT OUT OF OBAMACARE

http://www.breitbart.com/Big-Government/2013/12/25/Top-8-Ways-To-Opt-Out-Of-ObamaCare

America needs Obama-care like Nancy Pelosi needs a Halloween mask. –Jay Leno

 

Obama’s promised savings of $2,500 per year.

Obamacare to Increase Average American’s Healthcare Costs By More Than $7,000

http://thedailysmug.blogspot.com/2013/12/new-obamacare-fees-coming-in-2014.html

DB

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  • Tanya Stone

    The average American spend $8200 a year on health care. The CHEAPEST plan under Obamacare costs $9760/year. Fortunately, I only have to pay $200/month. The day I sign up, the govt. will forward the remaining $4960 to the health insurance company the day I sign up. So, the government and I are paying $9760 a year when the actuary tables say that I will be spending $8200/year on health care. But that’s not all — I have a $5000 deductible. so I will pay nearly two thirds of that $8600/year myself, before the health insurance company ever has to pony up a cent. So ACA is in fact a vast transfer of tax-payer money to the health insurance company. And health insurance companies do not provide health care: they will not splint a broken arm, or prescribe an antibiotic, or perform surgery. A health insurance company simply holds the bet for how much they think you will be spending on health care — plus enough to make a profit for themselves. And Obamacare has handed them gargantuan, obscene profits, guaranteed, without them having to perform one more iota of service.

    Why can’t we give these “tax credits” directly to the physicians, clinics, nurses, and hospitals that actual provide the health care that we all, at some point or another, will need? Wny, because that would be the dreaded socialism! You know, that solicialized medicine that every other industrialized country (including Mexico) provides for their citizens. Except us. Instead, we have handed obscene profits, paid for out of the taxes on our labor, to health insurance giants who are already making a bundle.

    That is corporate welfare. And I have another word for it: robbery.