November 20, 2013 | By Javier Manjarres | Facebook | Twitter

Obamacare Stands To Bail Out Insurance Companies

Marco Rubio/ The Shark Tank

By JAVIER MANJARRES

The Obamacare law continues to surprise Americans, not so much that its website roll out has proven to be an utter failure, but with the little known fact that in the law, health insurance companies stand to receive a government bail out if they are not able to cover their costs relating to the healthcare law.

Senator Marco Rubio, along with Senators Saxby Chambliss (R-GA), Jim Inhofe (R-OK), Mike Lee (R-UT), Mitch McConnell (R-KY), Rand Paul (R-KY) and David Vitter (R-LA), have introduced The Obamacare Bailout Prevention Act, which would scrub the Obamacare provision in the law that bails out insurance companies with taxpayer dollars.

Here is what Rubio said in his press release:

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“The American people are sick of Washington picking winners and losers, especially since the chosen losers often end up being taxpayers who foot the bills for Washington’s mistakes,” said Rubio. “Washington’s bailout culture must end, and eliminating ObamaCare’s blank check for a bailout of insurance companies is a common sense step to protect taxpayers when ObamaCare fails.”

Here is what Rubio said on the O’Reilly Factor:

The notion that we have to take taxpayer dollars to bail out insurance companies to make ObamaCare work, that alone is a testament to why this entire law needs to be repealed. The sooner the better.”

“Here’s what makes it worse: this bailout would be every year because these plans don’t need one year. They’re going to need an ongoing bailout…every year for those three years. It’s going to be rolling. This thing is not going to go away. [Most] bailouts happen one time. They weren’t good, but this one is over a period of years. So again, this law cannot be saved. It will have to be repealed. And the question is how long will it take for Democrats to realize that and cooperate in that endeavor. So far, I think at the upper echelons of the Democratic Party, they’re still being very stubborn about it. But my prediction is: check back in 8 weeks.”

There is a reason why this provision was inserted into the healthcare law. Obama knew this healthcare lawdisaster could, and probably would occur, once the roll out began.

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