Saturday, November 21, 2015

HHS: Bailing Out Obamacare Insurers An 'Obligation' Of The Federal Government

HHS: Bailing Out Obamacare Insurers An 'Obligation' Of The Federal Government

November 21, 2015 HHS: Bailing Out Obamacare Insurers An 'Obligation' Of The Federal Government , 1 Comments


By Philip Klein, Nov 20, 2015 Washington Examiner

The Department of Health and Human Services attempted to reassure private insurers on Thursday that they'll be able to recover losses from participating in Obamacare by claiming it was an "obligation" of the U.S. government to bail them out.

At issue is a provision within the law known as the risk corridors program. Under the program, which runs from 2014 through 2016, the federal government is to collect money from health insurers doing better than expected and use those funds to provide a federal backstop to other insurers who incur larger than expected losses from rising medical claims. The idea was to provide training wheels to insurers in the first years of Obamacare's implementation, and to take away any incentive for insurers to cherry pick only the healthiest customers.

Republicans, fearing that this could turn into an open-ended government bailout in the event of industry-wide losses, included a provision in last year's spending bill that limited the program, requiring HHS to pay out only from the pool of money collected, rather than supplementing it with other sources of government funding. President Obama signed that bill.
 
Read More: http://www.washingtonexaminer.com

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1 comment:

  1. Mary-OrionNovember 21, 2015 at 9:41 AM

    Oh, let's see ... HHS and Obamacare - ACA are both fully funded by those who still are paying taxes to the U.S. government. Therefore ... it is the taxpayers who are actually bailing out "Obamacare" and not the revenue sucking plunderers at HHS.
    Both the ACA and HHS are unlawful federal bureaucracies and entities that full out violate our nation's mandated constitution's and the 10th Amendment.

    ReplyDelete

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