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Breaking: DEMOCRATS to REIMBURSE Insurance Companies Up to 80% on O-Care Losses (Video)
The Gateway Pundit ^ | 11-18-2013 | Jim Hoft

Posted on 11/18/2013 3:26:41 PM PST by servo1969

This must have been one of those backroom deals we heard so much about… Stuffed inside the Obamacare law passed by Democrats (with no Republican votes) is a provision that will reimburse insurance companies up to 80% of their losses due to Obamacare. Melissa Francis reported on FOX News:

“Marco Rubio has been out highlighting the fact that there is this ‘risk corridor’ where written into this law that nobody read is this idea that is insurance companies have 3% higher costs than they estimated as a result of who’s in these pools, they can recoup 50% of that money from the government, from you and me. 8% higher than what they estimated, they can recoup 80%!… This bailout of the insurance companies is the next big thing we’ll all be talking about.”

And, here we thought Democrats hated insurance companies.

[video]


TOPICS: Business/Economy; Culture/Society; Front Page News; Government
KEYWORDS: aca; bailout; democrats; insurance; obama; obamacare; riskcorridor; toobig2fail; welfarestate
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The Government is playing a game of Monopoly with America's healthcare.
1 posted on 11/18/2013 3:26:41 PM PST by servo1969
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To: servo1969

Well, Nancy Pelosi was right: they did have to pass it for us to see what was in it.


2 posted on 11/18/2013 3:27:45 PM PST by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: PghBaldy

Pgh.... We be shafted again. :-(


3 posted on 11/18/2013 3:29:06 PM PST by willibeaux (de ole Korean War vet age 83)
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To: servo1969

And it’s OUR money. What would be wrong with an armed insurrection at this point? Do we not have the right to defend our country against its enemies, if those enemies happen to be politicians?


4 posted on 11/18/2013 3:29:09 PM PST by clintonh8r (Don't twerk me, Bro!)
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To: servo1969

Risk Corridor has been repeatedly reported on Fox News.

Hardly “Breaking News.”

It’s “Corporate Cronyism,” the Chicago Way.


5 posted on 11/18/2013 3:30:14 PM PST by onyx (Please Support Free Republic - Donate Monthly! If you want on Sarah Palin's Ping List, Let Me know!)
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To: servo1969

Knew that was what the big meeting was between Obama and the insurance companies last week. It’s called another bailout; Obama is glad - one step closer to a bankrupt America.


6 posted on 11/18/2013 3:31:06 PM PST by Hattie
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To: servo1969

HOW THE HELL DO THEY PAY FOR THIS?

This is MILLIONS, likely more. This is our damn money!


7 posted on 11/18/2013 3:31:33 PM PST by Viennacon (i)
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To: servo1969

Incredible. Crony capitalism (aka, fascism) in action.


8 posted on 11/18/2013 3:31:36 PM PST by livius
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To: servo1969

democrats can not tie this to republicans since not one voted for it.


9 posted on 11/18/2013 3:31:45 PM PST by RginTN
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To: onyx

How is this not single payer?

Where are the Democrats getting the money for this?

lol

just kidding


10 posted on 11/18/2013 3:32:34 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: servo1969

What the Hell happened to this country?


11 posted on 11/18/2013 3:33:49 PM PST by Tzimisce
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To: servo1969

Does anyone else wonder how many dollars the insurance slipped into Democrats pockets to get this little gem inserted?

It’s all about the money you know. Democrats can be bought cheap, and Pelosi has been known to sell out for almost anything.


12 posted on 11/18/2013 3:34:03 PM PST by Venturer (Keep Obama and you aint seen nothing yet.)
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To: servo1969

told you obamacare was too big to fail. especially if the GOP keeps funding it. defund it period.


13 posted on 11/18/2013 3:34:34 PM PST by dadfly
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To: Viennacon

Likely hundreds of billions, actually, since NOBODY under 25 is going to sign up for this.


14 posted on 11/18/2013 3:35:04 PM PST by RinaseaofDs
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To: servo1969

All group policies have a 2-2.5% fee, that goes to the insurance companies. This is in addition to another .5 - 1% fee (3.5%, total - for now) that’s also tacked on and goes in to various slush funds.


15 posted on 11/18/2013 3:35:11 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: servo1969

Actually, I thought it was 100% the first year and 80% the next two years. And NOW Obama thinks he’s got the authority to include the illegal, non-compliant, re-issued cancelled polices he’s “allowed” by illegal edict in this payback scheme. That’s the inducement he’s using to try to get the insurance companies to re-issue these illegal policies.


16 posted on 11/18/2013 3:35:20 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: RginTN

don’t worry their anti-business supporters have never seen a handout they didn’t like.


17 posted on 11/18/2013 3:36:57 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: FReepers
Clueless? No, Dangerous


Click The Pic To Donate

Support FR, Donate Monthly If You Can

18 posted on 11/18/2013 3:36:57 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: servo1969

i like the convexity of the subsidy, the worse your estimate, the more the gov’t makes up the difference…

marx wrote that history repeats itself twice, first as tragedy and then as farce

i don’t think the collapse of hillarycare qualifies as tragedy, but obama sure has the farce aspect covered


19 posted on 11/18/2013 3:38:19 PM PST by Reverend Wright ( FORWARD !)
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To: servo1969

Whether its Benghazi, EPA, IRS etc they are in harmony with the false claims and
misrepresentations about Obamacare that the White House has repeated
UNTIL actual reported computer numbers disputed their positive claims
at the State Health Exchanges.

Importantly Obama’s actions, viewed under the guise of “behavioral”
economic policy, trace the decline in Market Based Capitalist
solutions and and hail the birth of a “centrally planned” and
“directed” US economy.

Obamacare is a “public-private partnership aka PPP” and the term is a
trojan horse and surrogate for centrally planning. The genesis of the
term can be traced back to the South African Communist Party which
instructed party cadres at the fall of the Berlin Wall and USSR, to
use the new terms to distance itself from the fall of the Russian
Communist Party and its lexicon for economic management.

But no matter what we label “PPP”, its intent is to establish a
directed economy where the Central Government holds the vital cards
such as in healthcare and economic statistics.


20 posted on 11/18/2013 3:38:24 PM PST by Understand the stimulus
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To: RinaseaofDs

Very likely with the way it’s going. If there is one thing to refuse to fund in the House, it’s this.

The public will be on our side if the Dems are pushing an insurance bailout in response to their own failures.


21 posted on 11/18/2013 3:38:49 PM PST by Viennacon (i)
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To: Viennacon
HOW THE HELL DO THEY PAY FOR THIS?

As always, like good socialist, they will pay for it with your money.

22 posted on 11/18/2013 3:39:12 PM PST by tbpiper
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To: servo1969

Hope it all comes out of the DNPs funds.


23 posted on 11/18/2013 3:39:30 PM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: servo1969

But, but, but, but, but...they told us OCare would be less than $1 trillion!!

I can’t believe they’d lie to us! LOL


24 posted on 11/18/2013 3:41:22 PM PST by Fledermaus (If we here in TN can't get rid of the worthless Lamar, it's over.)
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To: servo1969

This is old news. As a benefit of climbing into bed with the President, he promises that if the young and healthy do not enroll in the exchanges, he will make sure the venture still works for the participating insurers.

How long can such losses be financed at the expense of the taxpayers?


25 posted on 11/18/2013 3:42:54 PM PST by lurk
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To: servo1969

Wow, that’s just swell of them! I assume that the money is coming out of Democrat party funds? No?


26 posted on 11/18/2013 3:43:13 PM PST by Billthedrill
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To: servo1969
This was Obama’s out with the Insurance Companies for their participation and in case Obamacare failed, which it did.
27 posted on 11/18/2013 3:46:34 PM PST by tobyhill
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To: DJ MacWoW
now youre being MEAN to poor widdo barry again....


28 posted on 11/18/2013 3:48:23 PM PST by MeshugeMikey ( Visit http://icantenroll.com/ In Glitch We Trust....;o})
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To: servo1969

This has been know for awhile. What it shows is the great uncertainty in terms of the makeup of the Obamacare Risk Pool. That’s hardly a surprise.

But note that at 80% reimbursement the Insurance Companies are operating at a loss. They’re not losing that much but they are still losing money. You are not going to keep them interested in that kind of business. Even at 100% it would still be ZERO PROFITS and they wouldn’t stick around very long for that kind of a deal.

This really isn’t as bad as it looks. It can only be a temporary thing while the Insurance Companies decide if this deal is any good.

And also note that if they do suffer losses in 2014 then the rates will have to go up to where there is no need for a subsidy in 2015 or they will still be losing money. Death spiral here we come.


29 posted on 11/18/2013 3:48:28 PM PST by InterceptPoint
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To: Tzimisce

When the states were booted from the senate, consolidation of power in Washington was guaranteed.

What was clear to the framing generation was overwhelmed in the 1910s progressive wave.

The wonder is that it took a hundred years to really descend into hard tyranny.


30 posted on 11/18/2013 3:49:49 PM PST by Jacquerie (An Article V amendment convention is our only hope.)
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To: Fledermaus
But, but, but, but, but...they told us OCare would be less than $1 trillion!!

.....and wouldn't cost the tax payers one more red cent, or add to the deficit. In fact, people would be saving $2,000 - $2,500 a year on their premiums if obomacare was enacted as well!

31 posted on 11/18/2013 3:51:11 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: servo1969

bttt


32 posted on 11/18/2013 3:51:13 PM PST by lonestar (It takes a village of idiots to elect a village idiot.)
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To: MeshugeMikey

Truth can hurt but isn’t necessarily “mean”, unless you’re a perpetually offended liberal. ;-)


33 posted on 11/18/2013 3:52:45 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: servo1969

And with some creative bookkeeping, the losses could work out very favorably for the insurance companies (and the Democrats, if they can figure out how to launder that money).


34 posted on 11/18/2013 3:52:51 PM PST by Hardastarboard (You can keep your doctor - if you lock him in your basement.)
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To: servo1969

the bailout is going to be huge, hundreds of billions for sure


35 posted on 11/18/2013 3:54:02 PM PST by 4rcane
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To: servo1969

(image courtesy of legalinsurrection.com)
36 posted on 11/18/2013 3:54:12 PM PST by servo1969
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To: DJ MacWoW

haha yes I was speaking from poor little barrys point of veiw......

lifes tough when your lifetime achievement turns out to have as little utility as a broken toaster.

I can almost hear barry discussing this with harry and nancy

Cant we call this HarryCare for a few weeks???


37 posted on 11/18/2013 3:55:42 PM PST by MeshugeMikey ( Visit http://icantenroll.com/ In Glitch We Trust....;o})
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To: Hardastarboard

As I’ve said all along, the Chicago mob is all about crony capitalism, not doctrine.

Cut out the insurance companies, cut out a big source of lobbying dough and contributions.


38 posted on 11/18/2013 3:55:42 PM PST by nascarnation (Wish everyone you see a "Gay Kwanzaa")
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To: servo1969

The government doesn’t have any money to give. They’re so generous with YOUR money.


39 posted on 11/18/2013 3:56:23 PM PST by PapaNew
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To: MeshugeMikey

LOL!!!


40 posted on 11/18/2013 3:56:45 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: lurk
How long can such losses be financed at the expense of the taxpayers?

If something drastic doesn't happen to save us soon, the U.S. economy will crash in the fall of 2015 (Sept. or Oct.)
They've printed too much money to make Wall Street look like it's doing well under oboma, and they've paid the freeloaders not to work for far too long.

The grasshoppers have outnumbered the ants, and you know what happens at the end of that story.

41 posted on 11/18/2013 3:59:43 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: All
Here's another "shocker" hidden inside Obamacare....And, frankly....I just can't wait til loyal Democrat candidates "explain" to 2014 voters that they also voted for this.

On page 107 of the healthcare bill Obama facilitates Muslim triumphalism----the Muslim system of controlling non- Muslims who were conquered through jihad----including the TAXING of non-Muslims as a reward for Muslims having to tolerate the presence of infidels AND as a coercive means of converting the conquered to Islam.

ObamaCare allows the establishment of Dhimmitude and the Sharia Muslim diktat----Muslims are specifically exempted from the government mandate to purchase insurance, and also from the penalty tax for being uninsured. Islam considers insurance to be “gambling”, “risk-taking”, and “usury” and is thus banned. Muslims are specifically granted exemption based on their religious beliefs.

So Imam Louis Farrakhan and his followers will have no such penalty and have their health insurance needs subsidized by infidel taxpayers. <{> And that is known as "Dhimmitude" as facilitated by Obama/care.

====================================================

All those loyal Democrats who SUPPORT Obama AND VOTED for O/Care, also SUPPORT this atrocity. I guess Nancy doesn't know about it (cackle).

42 posted on 11/18/2013 4:00:33 PM PST by Liz
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To: lurk

The Medicaid rolls explode, the low income people get subsidies, the insurance companies get a bailout, and the people who actually pay for insurance gets higher premiums, higher deductibles, higher out of pocket and higher taxes to pay for all this crap.
Millions should be matching on DC with torches and pitchforks.


43 posted on 11/18/2013 4:01:34 PM PST by sheana
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To: servo1969

Isn’t this special.


44 posted on 11/18/2013 4:08:31 PM PST by ConservativeInPA (Molon Labe - shall not be questioned)
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To: servo1969

This is de facto ‘Single Payer’. How is it not, other than for the fact doctors don’t yet wear U.S. gov’t issued badges?


45 posted on 11/18/2013 4:09:03 PM PST by Obama_Is_Sabotaging_America (If Americans were as concerned for their country as Egyptians are, Obama would be ousted!)
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To: servo1969

And you thought the housing bubble was a disaster!


46 posted on 11/18/2013 4:10:15 PM PST by eclecticEel ("The petty man forsakes what lies within his power and longs for what lies with Heaven." - Xunzi)
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To: servo1969

Follow the money. In the end, this is the main reason why people do what they do — corrupt politicians, even more so.


47 posted on 11/18/2013 4:10:28 PM PST by 3Fingas (Sons and Daughters for Freedom and Rededicaton to the Principles of the U.S. Constitution...)
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To: servo1969

How much in terms of $billions is that going to cost? Add that in with the bureaucracy costs which already will cost us $151.8 billion annually. We could have covered the 18.5 million uninsured with a simple check for subsidized health insurance that would cost us only $55.5 billion. At $55.5 billion we would get healthcare at a bargain.


48 posted on 11/18/2013 4:12:02 PM PST by jonrick46 (The opium of Communists: other people's money.)
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To: eclecticEel

You mean the housing bubble that was caused by government interference with low rates and easy loans because “everyone deserves to have a house”? Sounds familiar.


49 posted on 11/18/2013 4:16:41 PM PST by 21twelve (http://www.freerepublic.com/focus/f-news/2185147/posts 2013 is 1933 REBORN)
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To: Hattie

” It’s called another bailout; ....”

It’s more like a pre-installed, battery-powered bilge pump.

The insurance companies are going to game this — e.g. they could build up a customer base by undercharging, and have the government pick up the tab for the losses.


50 posted on 11/18/2013 4:17:18 PM PST by USFRIENDINVICTORIA
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