Taxpayers may foot $12 billion insurance
bill for Obamacare failures
Sheryl Attkisson,
by
Sheryl Attkisson
Original Article
Posted By: jdrucker,
12/17/2019 5:11:03 AM
The U.S. Supreme Court recently heard oral arguments in a case where insurers are seeking $12 billion for losses they suffered after taking part in the Obamacare insurance exchanges.
Temporary programs known as “risk corridors” were designed to help insurers recover from any early losses they suffered after the implementation of Obamacare in 2010, and to minimize their ongoing risk. The programs promised to compensate the insurers for losses they may suffer from insuring largely uninsurable, high risk patients between 2014 and 2016.
In my best Cousin Eddie Voice, ‘it’s-a gift that keeps on giving’...
9 people like this.
Reply 2 - Posted by:
jeffkinnh 12/17/2019 5:52:50 AM (No. 264505)
We the People will pay for it one way or another, either through taxes to government or higher premiums to insurance companies trying to recover their losses.
I like the title stating "Obamacare Failures". We need such reminders because the dems NEVER admit their failures, which are frequent. The lesson to be learned here is that there is a REASON that some ill people are uninsurable. Their condition is such that there is no "risk" to be spread around. They are sick with an expensive disease to treat. It is no longer "insurance" but instead a simple transfer of financial responsibility. The insurance companies were fools for signing on to BOCare. This portion of it was certain to fail.
The only way to deal with this is for Society to honestly decide that we will (or will not) cover payments for people with current, expensive medical conditions through tax payments, sharing such costs among all society. Bluntly, it is like paying for infrastructure. At some point, we decided we needed to pay for it through government.
9 people like this.
Reply 3 - Posted by:
F15 Gork 12/17/2019 6:06:06 AM (No. 264511)
Obammycare met all the requirements of a good government program - it was stupid and it lost money.
22 people like this.
what am i missing here? the insurers had their losses covered for 2 years by law. in 2015 the law was amended
so that the gov would no longer cover insurer losses BUT the insurers kept insuring the bad risks? have no idea
why anyone responsible for share holder value would do that.
13 people like this.
Reply 5 - Posted by:
coyote 12/17/2019 8:00:28 AM (No. 264557)
What's this! I thought health care was going to be free. How can they be squabbling over payments?
12 people like this.
Reply 6 - Posted by:
udanja99 12/17/2019 8:47:29 AM (No. 264611)
IIRC, the insurance companies were wholeheartedly in favor of 0care with huge dollar signs in their eyes. And now they want a mulligan?
12 people like this.
Reply 7 - Posted by:
Philipsonh 12/17/2019 9:16:48 AM (No. 264664)
Let the politicians/ Democrats who voted the law in PAY WHATS DUE> Why should anyone who did not vote, or who voted against it, have to pay ? Start with Obama and Pelosi ! They wanted it so they need to pay for its shortcomings. Normal citizens have already been taken to the cleaners with the law's false promises.
6 people like this.
Reply 8 - Posted by:
KatieJo 12/17/2019 9:18:40 AM (No. 264670)
Who, besides the taxpayer, foots the bill for anything? Reminds me of the recent video from Campus Reform where they ask college students if they support Medicare for all. Of course they do, until they find out it has to be "paid for" and that they are likely the ones who will pay. What??!! Idiocracy.
6 people like this.
Reply 9 - Posted by:
Rumblehog 12/17/2019 10:15:56 AM (No. 264727)
No, you sell off your massive land and real estate holdings to pay for your bloody failures.
3 people like this.
Reply 10 - Posted by:
curious1 12/17/2019 10:28:42 AM (No. 264738)
They decided to cozy up to Obola and the demoncrats, this is the result of doing that, always - now eat it and smile.
3 people like this.
Reply 11 - Posted by:
Strike3 12/17/2019 11:49:24 AM (No. 264834)
The insurance companies could not wait to push Obamacare into existence and take part in the ultra-high rates that they could charge the upper end of the subscriber classes. It's a risky business and they lost their gamble. They should have opposed that mess with negative advertising and revealed what the rates were going to do. Even AARP screwed its vulnerable members by pushing Obamacare until it became a religion. Die in your luxury offices on the cherrywood furniture you greedy weasels.
0 people like this.
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