If you think ObamaCare and President Obama are unpopular now, just wait until the public finds out that taxpayers are on the hook if the health insurance companies lose money on the health insurance exchanges.
That’s right – the anti-business, anti-insurance company left-wing Democrats built an insurance industry bailout into ObamaCare. The Affordable Care Act includes language that provides taxpayer money to health insurance companies that guarantees the industry from financial failure.
The bailout provision provides the Republicans with an amazing opportunity to kill ObamaCare as explained by Charles Krauthammer in his recent Washington Post commentary,”Stop the bailout — now.”
First, Section 1341, the “reinsurance” fund collected from insurers and self-insuring employers at a nifty $63 a head. (Who do you think the cost is passed on to?) This yields about $20 billion over three years to cover losses.
Then there is Section 1342, the “risk corridor” provision that mandates a major taxpayer payout covering up to 80 percent of insurance-company losses.
Never heard of these? That’s the beauty of passing a bill of such monstrous length. You can insert a chicken soup recipe and no one will notice.
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