Charles Krauthammer wrote on Jan. 2: “The first order of business for the returning Congress: The No Bailout for Insurance Companies Act of 2014. Make it one line long: Sections 1341 and 1342 of the Affordable Care Act are hereby repealed.”
Pelosi said we have to pass the bill to find out what’s in it. Obama, Pelosi and Reid saddled us with this monstrosity. Passing a bill without debate, opportunity for amendments, or the ability to read the monstrosity before voting on it, and passed without a Republican vote is a recipe for disaster.
The rollout has been a colossal disaster. Sebelius left a state computer mess for Sam Brownback in Kansas, yet she’s in charge of this disaster. Section 1341, is the “reinsurance” fund collected from insurers and self-insuring employers at $63 a head. (Who do you think the cost is passed on to?) This yields about $20 billion over three years to cover losses. Section 1342, the “risk corridor” provision, mandates a major taxpayer payment covering up to 80 percent of insurance company losses.
Obamacare is already far behind its own enrollment estimates, especially getting 40 percent of the young and healthy.
Our imperial president has been changing the rules repeatedly (unconstitutionally since only Congress can change a law by amendment or repeal). The administration postponed the employer mandate, then exempted from individual mandate people whose policies were canceled (by Obamacare). Insurers were told to give free coverage, deprived of their best customers, forced to offer stripped down “catastrophic” plans to people age 30 and over (contrary to the law). Ironic because the reason so many policies were canceled was because they didn’t include free contraceptives, abortion, Viagra and pregnancy coverage. One size fits all.
Naturally the premiums are higher. The end result: insolvency, at which time insurance companies will pull out of Obamacare. Obama’s solution? A huge government bailout that is already baked into law.
Call House of Representatives Speaker John Boehner 209-225-0600 to repeal Sections 1341 and 1342 of the Affordable Care Act. Taxpayers have paid for far too many misguided bailouts for this administration.