One provision of Obamacare that is not mentioned is the risk corridor. This is a bailout of the insurance industry if enough people do not sign onto the exchanges. Marco Rubio is introducing a bill to eliminate this provision of Obamacare.
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. Obamacare enrollment has already been stymied by glitches at the healthcare.gov sign-up site and it could be dampened again under an administrative fix President Obama proposed this week to resolve problems with millions of cancelled policies.
Will this bill go anywhere? No. But it exposes Obama’s lie that Obamacare will not add one penny to the deficit. This risk corridor provision is nothing but an unlimited bailout of the insurance industry.
Tags: Marco Rubio, Obamacare
