Monday, November 30, 2015

Obama Is Bailing Out Big Insurers With Your Money

How dare the Obama administration bail out insurance companies with our money in order to hide ObamaCare's failures!
Last Thursday, just hours after giant insurer UnitedHealth Care said it's losing money selling ObamaCare plans and will likely exit the health exchanges next year, the administration quietly promised to bail out insurers for their losses — using your money.
Nearly all insurers are bleeding red ink trying to sell the unworkable plans. Without a bailout, more insurers will abandon ObamaCare, pushing it closer to its demise.
A bailout benefits insurers and a Democratic Party desperate to cover up the health law's failure. Ironically Democrats (including Hillary Clinton and Bernie Sanders) bad-mouth bank bailouts but are all for insurance company bailouts. Truth is, it's a rip-off for taxpayers, who shouldn't have to pay for this sleazy cover-up
Pressure is building on Republicans in Congress. Industry groups like the American Health Insurance Plans and giant insurers are joining with the Obama administration to lobby Congress ferociously for a bailout.
UnitedHealthcare's bombshell rattled investors, health plan subscribers and ObamaCare partisans. The insurer currently covers more than half a million ObamaCare plan subscribers in 34 states, including New York, New Jersey and Connecticut.
The insurer announced losses of $425 million on ObamaCare plans. "We cannot sustain these losses," said CEO Stephen Hemsley, and "we saw no indication of things actually"" improving.
Hemsley pointed to enrollees who were older and sicker than expected and in many cases gamed the system by waiting until they were ill to sign up. "We can't subsidize a market that doesn't at this point appear to be sustaining itself," he said.
Rad the rest of the story HERE.

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