Wednesday, May 21, 2014

Obamacare provides bailout for insurance companies

"If conservatives want to stop the illegal Obamacare insurance bailout before it starts they must start planning now." ~ Conn Carroll,
Those dirty insurance companies...oh, wait. This is the government's Ponzi scheme! Obama's gonna subsidize insurance carriers with our tax dollars while his regime aides in the industry's demise, so they won't collapse all at once and thus prove the ineffectiveness and dysfunction of his health care dictate, you see. Oh, gracias, Presidente! But there'd be no need for it if Big Government would keep its hands out of private matters!
LATimes: The Obama administration has quietly adjusted key provisions of its signature healthcare law to potentially make billions of additional taxpayer dollars available to the insurance industry if companies providing coverage through the Affordable Care Act lose money.

The move was buried in hundreds of pages of new regulations issued late last week. It comes as part of an intensive administration effort to hold down premium increases for next year, a top priority for the White House as the rates will be announced ahead of this fall's congressional elections.

Administration officials for months have denied charges by opponents that they plan a "bailout" for insurance companies providing coverage under the healthcare law.

They continue to argue that most insurers shouldn't need to substantially increase premiums because safeguards in the healthcare law will protect them over the next several years.

But the change in regulations essentially provides insurers with another backup: If they keep rate increases modest over the next couple of years but lose money, the administration will tap federal funds as needed to cover shortfalls.
Crickets from the five-term, permanent minority incumbent reelected in Kentucky last night, as well as the rest of the miscreants within the GOP leadership. You know, I was gonna use the peanut gallery analogy, but that's far more reactive than their timidity on display.

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