ObamaCare’s risk corridor program faces a $2.5 billion shortfall, according to the Centers for Medicare and Medicaid Services, due to insurance companies paying out a greater number of claims than anticipated. As Congress approaches the deadline to pass an omnibus bill to fund the federal government, FreedomWorks strongly urges Congress to include language to prevent the Obama administration from using any taxpayer dollars to bailout insurance companies that participate in the ObamaCare exchanges.
“Don’t even think about bailing out ObamaCare. Insurers should have known the risks of getting in bed with President Obama and his administration’s poorly devised law,” said FreedomWorks CEO Adam Brandon. “Taxpayers shouldn’t have to bear the burden of their bad business decisions.”
“Last week, the Senate provided Americans with a path to repeal ObamaCare through reconciliation. Unfortunately, even as ObamaCare enrollment is stagnant because of costly health plans available on the exchanges and insurers request billions in bailouts, the Obama administration refuses to accept the reality that this law is a disaster for America. We’re hopeful the next president will be willing to do what Obama wouldn’t: Sign repeal of ObamaCare into law.”
FreedomWorks aims to educate, build, and mobilize the largest network of activists advocating the principles of smaller government, lower taxes, free markets, personal liberty and the rule of law. For more information, please visit www.FreedomWorks.org or contact Jason Pye at JPye@freedomworks.org.
FreedomWorks Letter to Congress in Support of Fiscal Commision Act (H.R. 5779)