Republicans in Congress look to outlaw Obamacare bailout provision

There is a bill circulating in the House of Representatives that needs your support. Ealier this month, Congressman Tim Griffin (R-AR) introduced H.R. 3541, the House companion bill to Senator Marco Rubio’s S. 1726, the Obamacare Taxpayer Bailout Prevention Act. Like S. 1726, H.R. 3541 would repeal Obamacare’s risk corridor provision.

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“There is a bill now circulating in the House. It needs your support,” Glenn said on radio this morning. “It is to stop before they even start talking about it – you cannot bail Obamacare out. There is no bailout for this.”

Sen. Rubio explained the bailout provision buried in the Affordable Care Act in an op-ed for the Wall Street Journal:

Buried deep in the Department of Health and Human Services’ press release that accompanied the president’s Nov. 14 speech [announcing his unilateral action to “fix” his broken promise that Americans could keep their existing plans] was this sentence: “Though this transitional policy was not anticipated by health insurance issuers when setting rates for 2014, the risk corridor program should help ameliorate unanticipated changes in premium revenue. We intend to explore ways to modify the risk corridor program final rules to provide additional assistance.”

Risk corridors are generally used to mitigate an insurer’s pricing risk. Under ObamaCare, risk corridors were established for the law’s first three years as a safety-net for insurers who experience financial losses. While risk corridors can protect taxpayers when they are budget-neutral, ObamaCare’s risk corridors are designed in such an open-ended manner that the president’s action now exposes taxpayers to a bailout of the health-insurance industry if and when the law fails.

Read H.R. 3541 HERE.

Front page image courtesy of the AP

  • http://www.youtube.com/watch?v=V8FvmesaxXg Sam Fisher

    i say we do it and watchit fail. If Obama’s claims are true about the numbers than why is he pushing for these bail outs. It looks like to me he is lying to us again.

  • Anonymous

    It’ll take a tax to bail it out. Take it from the rich. Redistribution scheme…again…from our Communist Dictator Obama.

  • Anonymous

    Obamacare is not Constitutional and a legal Law!

  • Anonymous

    No…No….No….Obama said it is not going to cost us one thin dime. He said it is budget neutral and will pay for itself. He said this over and over again in many different speeches for O’care. Obama would not lie to us. He is the messiah and messiah’s do not lie…it would be a sin….

  • Anonymous

    We (most Americans) know ObamaCare is not Constitutional, but John Roberts (Chief Justice of the US Supreme Court) made it legal by rewriting it so the “mandate” became a tax instead of a penalty; as originally written. I agree with you that it really is not a legal law as it was passed with no support from the other political Party and bribery, and dirty tricks, were used to pass it.

  • Anonymous

    The bailout is built into the law and can’t be removed without the consent of the Senate and Obama. However, the bailout wasn’t budgeted by the CBO, and will require a restoring of the law, which will show that the Democrats lied through their teeth when they said what it would cost. Once CBO stops playing games, we will learn that Obamacare will cost an extra $1 trillion. Surprise surprise.

  • Anonymous

    Obama and his whole administration are lying,phony sacks of s–t. GOD help this country.

  • Anonymous

    The insurance companies supported Obamacare. If it crashes they get what they deserve.

  • http://www.absoluteintensity.com dennis reilly

    nooooooooooo, let congress, Obama and his cronies who love it bail the program out with their own money, Hope the Emanuels are listening

  • Anonymous

    Has anyone else noticed that Fox News has stopped reporting on the ACA disaster lately? It’s even stranger because now, in 2014, old policies expired and ACA horror stories are surely everywhere.

    I think the reason is associated with the point that Glenn is making here – that the Insurance industry is facing collapse, and its only hope is a massive bailout. Insurance companies are largely Republican, so suddenly FNC has reason to abandon its responsibility to report the news.

    Americans get screwed the most when left and right have a shared interest in government action, and this looks like a good example to me.

  • Anonymous

    There are other reasons that ACA is not legal. A good example is the fact that the version passed by the house differs from the version passed by the Senate.

  • Nathan Long

    If this program or what every you want to call the ACA is all ready talking about a bail out when it technically isn’t even started, because they keep pushing the mandates back, then it obviously has some major problems. Yeah I am against the bill so naturally I say dump it. But just looking at this one issue and nothing else is proof it should be abandoned. Insurance companies pushed it they should get to figure it out with the help of Congress, Senate, and the white house. Obama and his crooked Harry Reid and the other equally as crooked Democrats love the ACA and wanted it so bad they should be left to their “Own” to figure it out. And they better not use any of my tax dollars to do it. The Democrats “NEED” to flip the bill at their own expense. They want to support lazy people being lazy, let them support them and not the US.

  • landofaahs

    I will believe that when I see it. Besides, it’s a side show to distract from the coming collapse. Use the time to prepare that God has given you. There was a certain point in the days of Noah when God shut up the ark and sealed it and when some realized what was going on, they pounded on the door to be let in and were not. The judgment had been sealed before the execution had taken place.

  • Anonymous

    I don’t mind the occasional break from it. I get sick of hearing about it all the time. I know we need to be informed but if they take a break from it every now and then it’s more like a breath of fresh air.

  • Jim

    Obamacare is working exactly as they planned and exactly as they knew it would. The goal was never to provide “affordable health care”. The plan was to take control of the health care industry. Before BO’s term ends, I fully expect to here calls for a single payer system, which was the goal from the beginning.

  • Thomas Doyle

    With my old health care provider I had a hernia and they wanted me to pay half of $12.000 , Cancelled my insurance found a really good surgeon in Vegas for cash , $3400.66. and that was the expensive procedure. Cash talks here in Vegas. Thanks to THAT guy my DR. visits went up from $65.00 to $107.00 per visit.

  • Thomas Doyle

    just another way of letting the section 8s get something else free on our DIME

  • Thomas Doyle

    the best thing he is good at is lying to us , if he was impeached THE RIOT,S would be like ww3

  • Evelyn Robert

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    ♚♚♚ ♚♚�♚♚ ♚♚�♚ ♚♚♚Obama would not lie to us. He is the messiah and messiah’s do not lie…it would be a sin.

  • Mike Nelson

    Section 8 was a military term for professional soldiery.

    While the people of whom you speak are indeed mobilized against Obama’s enemies (the rest of We the People), it is unsavory to bestow upon them the status of honorable professionalism conferred by use of such a term.

    Words have meanings, and actions have results, so if this seems like only a nitpick, please think again. Military personnel deserve respect; the Eaters and Takers deserve nothing, save a hard life, a hand up, or, given sufficient belligerence, perhaps a savage beating.

  • Thomas Doyle

    You have no idea how much I respect the MILITARY

  • Thomas Doyle

    the term section 8 refers to the people who get assistance from the government. 8 yrs.of Harrassment verbal abuse mental anguish for my wife from this person than knew how to play the system to it’s fullest degree. It’s a long long story let’s just say I am white and she is black , not once did I call her names ,as she repedidly called me cracker and much worse, and when I got back from seeing my mother for a two week’s on here death bed this person say’s in Spanish 5 times F… your mother. Thanks to MR. DICKTATER the only thing he has done for me is give these people more rights than myself. I worked my whole life to be in this situation, My wife even had a STROKE from the constant ABUSE. WELL I qualified for a Short sale as a Hardship case. Hope to chat soon

  • Mike Nelson

    Please do not be mistaken; I wrote my comment in the tone I did in order not to be offensive, and because I don’t doubt your position of being abused. I’ve been put through the wringers of the racist, race-baiting, PC machine too (as have all whites for the last 10-20 years, as a methodical sacrifice to the gods of race-hate), and I know exactly how they operate.

    I’m not giving you a hard time, just stating that to participate in the obfuscation of language is to propagate and perpetuate.

    Thanks for the upvote, and best fortune :)

  • Anonymous

    Not really shocked by this action – its a good move. Does anyone think the REP’s are going to be a party of ‘no’ wen they’ve always stood up and said “maybe”?

  • Socialism is Evil. Organized.

    Our emotions are exploited relentlessly by those who oppose liberty and understand the manipulative power of the mass-TV-media.

  • Anonymous

    The CBO just released its report. It doesn’t support your opinion.

    Check it out: http://nymag.com/daily/intelligencer/2014/02/repeal-imaginary-obamacare-bailout-gop-insists.html

    The CBO is very conservative in its estimates.

    Do you wish to reconsider your opinion about who’s lying?

  • Anonymous

    The CBO just released its report. It doesn’t support your opinion.

    Check it out: http://nymag.com/daily/intelligencer/2014/02/repeal-imaginary-obamacare-bailout-gop-insists.html

    The CBO is very conservative in its estimates.

    Do you wish to reconsider your opinion about who’s lying?

  • Geronimo

    Now we are at “provisions” of the monstrosity instead of the monstrosity itself. I lost all faith with either party. The law itself is unconstitutional on many levels, the supreme court itself declared it a “tax” which we all know revenue bills can only be started in the house. Not the senate. Epic fail.

  • Richard Carroll

    I thought there wasn’t any more monopolies in the United States. Isn’t Obamacare a monopoly in the fact that there is no where else to go except to the Government for our health care? Didn’t they break up Ma Bell for the same reason?

  • Richard Carroll

    Isn’t Obamcare breaking the Monopoly law by not having any where else to get health care.

  • Richard Carroll

    It’s against the law to have a monopoly on any business.

  • Richard Carroll

    Can’t you guys make up your minds?

  • Richard Carroll

    try taking a reading course.