Obama Administration Breaks Law to Enrich Health Insurers (Pelosi knew)

Creators ^ | 2/24/16 | Betsy McCaughey

[Libloather]

**SNIP**

Desperate to keep insurers on board, the administration scrambled to find another source of money. Unfortunately, a big part of that money pot belongs to the public. Disregarding that fact, the administration announced on Feb. 12 that the money will be handed out to insurers - a whopping $7.7 billion this year alone. That huge handout to the insurance industry violates the law.

This is money you and everyone else who already has insurance is forced to pay, called a reinsurance fee. You pay the fee whether you buy your own plan or get covered at work, even if your employer self-insures. You may be clueless about it, but the fee is buried in your premium or taken out of your compensation.

The language of section 1341 of the Affordable Care Act, which details what this money can be used for, is clear as a bell. Some of these annual fees - adding up to billions a year - belong to the public, not the insurance companies. The law states a fixed share "shall be deposited into the general fund of the Treasury of the United States and may not be used" to offset insurance companies' losses. But the administration gave all of it to the insurance companies last year, and got away with that heist. So they're trying it again.

[Libloather]

Anyone in the corporate world who misused funds that way would be headed to prison. This rogue administration is going to any length - including running afoul of the law - to keep insurers hooked into Obamacare.

Husseincare gets in Hussein's way.

[Chgogal]

Congress is right on it. And the MSM will headline it.

We are so screwed.

[Organic Panic]

Nothing is against the law when democrats do it.

[Alberta's Child]

McCaughey may want to check her facts on this. I thought the language of the budget bill that was passed late last year included a provision that allowed the Federal government to use these fees to reimburse insurance companies for their losses in high-risk medical insurance pools.

The flip side of that provision -- and I have to give Paul Ryan credit for inserting it in the budget bill -- is that these fees are the only sources of revenue the government can use to reimburse the insurance companies. In other words, they can't use general revenues from other sources for this. That's why you have all of these insurers threatening to get out of the business this year ... because these fees only allow the government to cover less than 15% of their losses in these high-risk pools.

[Titan Magroyne]

bmfl

[DH]

That’s why you have all of these insurers threatening to get out of the business this year ... because these fees only allow the government to cover less than 15% of their losses in these high-risk pools.

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Do you understand....we are talking about the government here....deals will be made and money will flow into both political parties and the end result will be that the medical insurance industry will become even more corrupt than it is today.

Not to worry!

[patq]

The insurance lobbyist are working overtime to get their taxpayer bailout. And politicians from both parties and happy to oblige in return for some campaign contributions. The politicians get a few hundred grand and the insurance companies get billions of taxpayer dollars.

[zzwhale]

THE LAW under this traitorous administration
only applies to
PEOPLE WHO WORK FOR A LIVING
stealing and giving out free s**t to those WHO TAKE

[Alberta's Child]

OK. Just fill me in on the details once that happens.

I'm not a prognosticator who will make predictions about what will happen. All I posted was a point about what did happen at the end of 2015 that makes the author's point about a provision in the original ObamaCare bill completely irrelevant.