Did you know ObamaCARE gives taxpayer funded bailouts to insurance companies to guarantee them a certain profit every year? Conservatives are always against bailouts. Leftists only hate bailouts when George W. Bush does them, so they probably wouldn’t mind this. Still, I just find it hilarious how progressive liberal Democrats always whine about the ‘evil’ health insurance company, yet seem to have no problem giving them tax payer dollars to guarantee them a profit all because of ObamaCARE.
| ObamaCARE gives taxpayer-funded bailouts to insurance companies |
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Washington, D.C. –U.S. Senator Marco Rubio (R-FL) today introduced S.1726, The ObamaCare Bailout Prevention Act, a bill that would eliminate a provision of ObamaCare that allows for taxpayer-funded bailouts of insurance companies at the Obama Administration’s sole discretion.
Under ObamaCare’s section 1342, so-called risk corridors were established for the law’s first three years as a safety net for insurers who experience financial losses. Last week’s announcement by President Obama that he would act unilaterally to “fix” his broken “you can keep your plans” promise now increases the likelihood of a bailout of health insurance companies with taxpayer dollars. Rubio’s bill would fully repeal the risk corridor provision, thereby ensuring that no bailout will occur under ObamaCare’s section 1342.“The American people are sick of Washington picking winners and losers, especially since the chosen losers often end up being taxpayers who foot the bills for Washington’s mistakes,” said Rubio. “Washington’s bailout culture must end, and eliminating ObamaCare’s blank check for a bailout of insurance companies is a common sense step to protect taxpayers when ObamaCare fails.”
The ObamaCare Bailout Prevention Act is co-sponsored by Senators Saxby Chambliss (R-GA), Jim Inhofe (R-OK), Mike Lee (R-UT), Mitch McConnell (R-KY), Rand Paul (R-KY) and David Vitter (R-LA).