Obamacare Fail #1 - Fed Funds to Keep Rates down

Discussion in 'Politics' started by jem, May 21, 2014.

  1. jem

    jem

    this is truly a disgusting crony weaving of govt and crony.
    Dems steal liberty by forcing taxpayers to make payments to Insurance companies
    Govt screws up the Insurance market in a bid to screw every last cent from non crony tax payers.
    Govt uses allows Crony bank to bail out crony business to avoid being thrown out of office.

    Under Obama we have crossed the banana republic / crony socialism threshhold.

    This must be stopped as unconstitutional... asap.
    It will cheat the country out of a fair election and fair reaction to govt policies.



    http://www.latimes.com/nation/la-na-insurance-bailout-20140521-story.html#page=1


    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.

    If conservatives want to stop the illegal Obamacare insurance bailout before it starts they must start planning now.
    - Conn Carroll, an editor of the right-leaning news site Townhall.com
    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.

    Although little noticed so far, the plan was already beginning to fuel a new round of attacks Tuesday from the healthcare law's critics.