This must have been one of those backroom deals we heard so much about…
Stuffed inside the Obamacare law passed by Democrats (with no Republican votes) is a provision that will reimburse insurance companies up to 80% of their losses due to Obamacare.
Melissa Francis reported on FOX News:
“Marco Rubio has been out highlighting the fact that there is this ‘risk corridor’ where written into this law that nobody read is this idea that is insurance companies have 3% higher costs than they estimated as a result of who’s in these pools, they can recoup 50% of that money from the government, from you and me. 8% higher than what they estimated, they can recoup 80%!… This bailout of the insurance companies is the next big thing we’ll all be talking about.”
And, here we thought Democrats hated insurance companies.
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Sen. Marco Rubio (R-Fla.) is reportedly offering legislation that would repeal the provision altogether, arguing it raises the possibility of an insurance industry “bailout.”