Rubio: Not Taxpayers' Responsibility to Bail Out

Rubio: Not Taxpayers' Responsibility to Bail Out Obamacare

on Sat, 11 Jan 2014

On Friday, Senator Marco Rubio commentedthat it should not be the burden of American taxpayers to bail out health insurers enduring financial stress from Obamacare.

Healthcare leader and Obamacare participant Humana Corporation said they are now experiencing "adverse" effects. On Thursday, they specified in their 8k report to the Security and Exchange Commission, “As a result of the December 2013 federal and state regulatory changes allowing certain individuals to remain in their previously existing off-exchange health plans, the company now expects the risk mix of members enrolling through the health insurance exchanges to be more adverse than previously expected.”

Some speculate that President Obama may be considering a financial bailout for those healthcare companies that are not receiving adequate enrollment numbers to make Obamacare sustainable. Rubio stated, “American taxpayers should not be on the hook for bailing out health insurers, especially because Obamacare is not working the way it was sold.” Moreover, he said, “Congress should take an Obamacare bailout off the table by passing legislation I’ve introduced to repeal the so-called risk corridor provision under the law.”

In 2013, Senator Rubio introduced a bill that would eliminate the provision within the Affordable Care Act that allows participating healthcare companies a three-year safety net against financial losses. The safety net known as “risk corridors” would be repealed in Rubio’s bill, making certain no bailout occurs.