Monday, January 13, 2014

Update: Rubio Submits Legislation to Stop Bailout - The ObamaCare Bailout Mr. O Neglected to Tell Us About

Last week I was discussing my thoughts on ObamaCare with a friend.  I mentioned about how I think everything that is happening has been planned in order to usher in single-payer, government controlled health care.  I said I even thought that Mr. Obama didn't really care about the internet mess up or how it affected his polls, just as long as the desired outcome is achieved. My friend said that my beliefs are a conspiracy theory. 

I read this article today.  It only reassures me that the "conspiracy theory" is reality.

We are now finding out that our tax dollars will be bailing out the insurance companies.  Another little tidbit Mr. Obama neglected to share with the taxpayers.

Via:  The Weekly Standard
Bailing Out Health Insurers and Helping Obamacare
Robert Laszewski—a prominent consultant to health insurance companies—recently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, “insurers won’t be losing a lot of sleep over it.”  How can this be?  Because insurance companies won’t bear the cost of their own losses—at least not more than about a quarter of them.  The other three-quarters will be borne by American taxpayers.
But that’s exactly what it will do—unless Republicans take action.  As Laszewski explains, Obamacare contains a “Reinsurance Program that caps big claim costs for insurers (individual plans only).”  He writes that “in 2014, 80% of individual costs between $45,000 and $250,000 are paid by the government [read: by taxpayers], for example.” For some reason, President Obama hasn’t talked about this particular feature of his signature legislation.  Indeed, it’s bad enough that Obamacare is projected by the Congressional Budget Office to funnel $1,071,000,000,000.00 (that’s $1.071 trillion) over the next decade (2014 to 2023) from American taxpayers,through Washington, to health insurance companies.  It’s even worse that Obamacare is trying to coerce Americans into buying those same insurers’ product (although there are escape routes).  It’s almost unbelievable that it will also subsidize those same insurers’ losses. 
In other words, insurance purchased through Obamacare’s government-run exchanges isn’t even full-fledged private insurance; rather, it’s a sort of private-public hybrid.  Private insurance companies pay for costs below $45,000, then taxpayers generously pick up the tab—a tab that their president hasn’t ever bothered to tell them he has opened up on their behalf—for four-fifths of the next $200,000-plus worth of costs.  In this way, and so many others, Obamacare takes a major step toward the government monopoly over American medicine (“single payer”) that liberals drool about in their sleep.

UPDATE 1/13/14:

Senator Marco Rubio (R-FL) has submitted legislation to prevent the bailout of the insurance companies.  Read Rubio's article:

Sebelius, Congress should take ObamaCare bailout off the table 

"...By law, health insurers are leveling with their shareholders about how ObamaCare will hurt their bottom line. Now President Obama, Secretary Sebelius and ObamaCare’s supporters should level with American taxpayers about the law’s true costs and eliminate any chance for a bailout.
Unfortunately, we can’t just take the administration’s word that it won’t happen. Congress has to act, and it should approve legislation I’ve introduced to repeal ObamaCare’s risk corridor provision and stop any bailout.  At just a page long, my bill is simple but would instantly wipe away the taxpayer's exposure to millions – and potentially billions – of dollars' worth of a bailout for insurance companies.
If the only way ObamaCare works is with a taxpayer-funded bailout of insurers, it’s yet another clear sign that the law can’t survive and isn’t worth saving.
 While in office, I have worked with others to protect Americans from ObamaCare's damage – as patients, taxpayers, consumers and workers. While some immediate relief is possible, it's become clear that all of ObamaCare's damage can't be prevented forever, unless the law is repealed and replaced with market-based reforms that will make health care more affordable and accessible for all Americans..."


  1. And of course once they take the bailouts, the government can control them .

  2. Of course it was to be a government controlled single payer plan. Tell your friend to get their head out of the sand.

    1. As time goes on and we find out more about ObamaCare, there will be a lot of people finding out their heads have been in the sand.

  3. I blogged about this right before it was passed.
    I said that the masons controlled the insurance companies and the majority of the members of the congress who are masons.
    That this is a quid pro quo; thus forcing a discussion on the Sunday talking heads, and they all (ABC< CBS< NBC) said, you could say that this is a quid pro quo------with a air of --WAD-A-YOU GONNADOO ABOUTIT.
    And Now in the news a GOP Rep is being charged with a quid pro quo. Can you say double standard? The Dems do it,---- and file charges against the Repubs instantly, with out a moments notice..

  4. what happened to my comment do you have moderation on

  5. Yes, I do have comment moderation on, so sorry for the delay in posting your comment. I've gotten some nasty anonymous comments and some stupid sp. I don't want to give the trolls the satisfaction of publishing their nonsense. We've also had company for a couple of days and I've been lax on checking the blog.

  6. There was no delay on your part.
    It disappeared without the banner "your comment" will be approved by the blog author---or some such

    Then when I asked what happened----the banner showed on that comment.

    I had thought the 1st one was lost. I usually click copy, before hitting publish-but forgot that time.
    Again there is not a delay on your part.

    1. Glad it came through OK. Some days I just can't get to the blog. I don't post as often and now only on subjects that really tick me off or catch my eye.

  7. Same here check my 2 latest post that are after a 6 month break

  8. I could be wrong, and I have been wrong about the way the political winds have been blowing before, but not this time: with all of the slime, skullduggery and pain to the public that Obamacare is wreaking, I predict that the full implementation of this garbage law will never happen. Too many God awful provisions are, Like Nancy Pelosi predicted, coming to the light of day after all of the fog of the initial controversy has lifted. To my point, this insurance industry bail out will cause some serious back lash from Americans.

    It will not be tolerated by a (still) free society. Watch the 2014 returns, and listen to the campaign promises vowing to kill this beast that propel their champions to victory. I can smell it. I can feel it. It's coming.

  9. Sorry it took so long to publish your comment. I have been busy with other things and haven't been able to keep up with the blog every day.

    What I really think is that the Obamacare "failure" was planned all along so that they can usher in single payer.


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