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If anyone can find a main stream media article post it.
Obama is going to bail out insurance companies because he doesn't want them to raise their premiums before the November elections. This government fund will be set up to encourage lower premiums but eventually the taxpayer will be left holding the bag. Premiums need to rise because of low participation of young healthy people in Obamacare and because many that signed up haven't paid.
I thought liberals hated big insurance companies? Why bail them out then?
I thought liberals hated big insurance companies? Why bail them out then?
because they cant get a single payer system in place right now as the country is still against it. obama said it would take as much as fifteen years to get a single payer system in place in the US in a speech to SEIU in 2007(iirc).
The ACA has been a boon to the big insurers. This is the government's way of scratching the back of megabusiness.
Yes, we had a post not long ago where one insurance company was crowing about their $700 million dollar profit. What is there to bail out? This would be a bribe, nothing more.
More false reports. "What if's" presented as facts. "The sky is falling, the sky is falling!" Well maybe it'll fall on the heads of the America-haters.
The ACA has been a boon to the big insurers. This is the government's way of scratching the back of megabusiness.
The insurance companies, bankers, others have mastered the same old show. Legislation considering them is moving through congress and in the press they are crying like a baby with out it's pacifier. The earliest example of this is in 1913 when congress passed the federal reserve act. You would think that Americans would catch on to the same game being played over and over again.
The insurance companies love Obamacare, why would n't they when the gvt guarantees a profit with a bail out. Don't be fooled by the insurance companies greasing the palms of {R}s for repeal its a scam to make it look like they are against. Lets see, you make a million or 2 in campaign contributions and return have access to a 25 billion bail out fund? Hmmmm what to do?
Obamacare is not going anywhere unless it is replaced by single payer.
More false reports. "What if's" presented as facts. "The sky is falling, the sky is falling!" Well maybe it'll fall on the heads of the America-haters.
If anyone can find a main stream media article post it.
Obama is going to bail out insurance companies because he doesn't want them to raise their premiums before the November elections. This government fund will be set up to encourage lower premiums but eventually the taxpayer will be left holding the bag. Premiums need to rise because of low participation of young healthy people in Obamacare and because many that signed up haven't paid.
I thought liberals hated big insurance companies? Why bail them out then?
Why liberals hate them so much they allowed the insurance industry to write the Obamacare bill.
Baucus and his right hand woman Liz Fowler (came from Wellspoint to work in the government to write the bill and then went back to insurance industry right after the bill passed).
because they cant get a single payer system in place right now as the country is still against it
How do we know. We have yet to have a candidate even run on a single payer system platform.
Obama was not even for a public option, although something like 80 percent of the American
voters were.
More false reports. "What if's" presented as facts. "The sky is falling, the sky is falling!" Well maybe it'll fall on the heads of the America-haters.
'Facts' you say?
Quote:
The bailout provisions of Obamacare are found in Sections 1341 and 1342 of the Affordable Care Act, both of which should be repealed. Doing so will be difficult, but it is not impossible.
The first provision bails out insurance companies for costs associated with individual patients when they exceed $45,000. Under this so-called reinsurance program, insurers will be able to push off 80 percent of costs between $45,000 and $250,000 onto a fund financed by a fee of $63 per head on customers of insurance companies and workers covered by self-insuring companies.
Given that most of the associated costs will almost certainly be passed on to consumers by insurers, that fee is in effect a tax. And in the event that the fund does not generate revenue sufficient to cover its costs — far from an unlikely scenario — then taxpayers will be explicitly on the hook. This preemptive bailout was included in the law as a deal-sweetener to induce more insurance companies to participate in the program. It is a good deal for insurers, for whom any opportunity to reassign risk to somebody else is a welcome profit opportunity, but it is a terrible deal for consumers and taxpayers.
The second and potentially even more troubling bailout provision is the one for so-called risk corridors, which asks the insurance company to project their total costs and then picks up most of the difference if losses should exceed those targets. The potential for gaming the system here is obvious and dire, and the potential costs are enormous. Senator Marco Rubio already has introduced a bill to repeal this provision, though it is unlikely to pass. At the very least, Republicans should ensure that the provision, scheduled for sunsetting in 2016, dies on schedule.
The potential costs and risks associated with these provisions are worrisome, and the fact that they are in effect hidden from the public is troubling in and of itself. The complexity of Obamacare is by design: By obscuring the realities of the program, Obamacare’s architects ensured that it would be easier to peddle such untruths as “If you like your insurance, you can keep it” and promises of substantially lower premiums. The reality of Obamacare has shocked Americans, but it has not shocked them enough: Even as the law sends many Americans’ insurance premiums skyrocketing, those higher premiums do not cover the costs associated with the program — Americans will be paying on the front end and on the back end as well, with premiums on one side of the equation and bailouts on the other.
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