Next Big Bailout May Go to Obamacare Health Insurers
It didn’t get much attention outside Capitol Hill, but late last week House Republican leaders scuttled a vote to repeal an ObamaCare bailout plan for major heath insurance companies if they lose money on new Affordable Care Act policies. Taxpayers could be on the hook for billions of dollars of payouts for ACA insurance policies that incur losses that exceed premiums collected.
Despite pleas from conservatives to hold a vote to repeal the sham subsidy program to the biggest health insurers, like Aetna (NYSE:AET), Cigna (NYSE:CI) and Humana (NYSE:HUM), our sources tell us the House leadership reportedly said that it “ran out of time to hold a roll call vote.” Conservative activists are complaining that the real motive for killing a vote was to avoid ruffling the feathers of the health insurance lobby by ending the ObamaCare insurance industry safety net.
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