[FreedomWorks has also endorsed the House companion bill by Rep. Tim Griffin, HERE]
As one of our millions of FreedomWorks members nationwide, I urge you to contact your senators today and urge them to support S. 1726, the “ObamaCare Taxpayer Bailout Prevention Act”. Sponsored by Senator Marco Rubio (R-FL), this bill would simply eliminate the section of ObamaCare that provides for taxpayer bailouts of health insurance companies.
This simple, one-line bill would eliminate Section 1342 of the Patient Protection and Affordable Care Act (PPACA), which is the section that provides for “risk corridors” for health insurers. These risk corridors are basically a safety net – to make up some of the difference if health insurers lose money under ObamaCare.
Of course, with the recent catastrophic failures in ObamaCare’s online insurance exchanges, it is now all but certain that insurance companies will not sign up enough young and healthy people to offset the cost of the expanded coverage that all plans are now forced to provide.
The complex problems that ObamaCare is causing in the insurance industry are the inevitable result of central planning. No government agency or team of highly-skilled technocrats can know all of the ins and outs of a health care system that currently accounts for a sixth of our entire economy.
But the solution to this government intervention is to get rid of ObamaCare, not to bail out the insurance companies – many of which actively lobbied on behalf of the law because of its promise to increase their customer base.
I urge you to contact your senators today and urge them to support S. 1726, the “ObamaCare Taxpayer Bailout Prevention Act”, to stop taxpayers from being on the hook for tens of billions more dollars to the insurance companies.
President and CEO,