Posted on 11/19/2013 4:40:07 AM PST by tobyhill
President Barack Obama had some bad news for the insurance company CEOs who met him at the White House: His “fix” might cost them.
Obama asked the CEOs to reinstate millions of Americans’ health insurance plans that were cancelled because they fell short of coverage requirements under the law, according to two executives who attended the session Friday.
The president offered the execs some sweeteners, but admitted they won’t necessarily add up to enough to cover the full brunt of added costs that the changes to the insurance market could create.
The president’s proposed “fix” to the wave of plan cancellations was to allow insurance companies to extend the plans for a year, but those extensions are voluntary, so he needs the industry to buy in.
(Excerpt) Read more at politico.com ...
Didn’t the Clown say, “No bailout, period.”?
Uh....isn’t a bailout for cooperating insurance companies that lose money written into the bill? Fox News cited that part of the plan within the last week.
I guess, then, BO will enthusiastically support Marco Rubio’s legislation putting that into law.
The gov, w/ the power to tax, investigate, litigate and intimidate is dictating how private companies are going to take a hit. And there's not a damn thing they can do about it.
Is this the United States?
Under the Risk Corridor provision if the Insurer has a 3% loss the US will cover 50% of the loss.
If they have an 8% loss the Taxpayer will cover 80% of the loss.
There is what they call a “risk corridor” built into Obamacare. However that was only stipulated to be for risk on ACA plans, not illegal plans.
I believe people know that O admin is probably promising those funds to cover O’s butt.
“The president offered the execs some sweeteners, but admitted they won’t necessarily add up to enough to cover the full brunt of added costs that the changes to the insurance market could create.”
What the heck is this? A BAILOUT!
There was a very good article by Sen. Marco Rubio in the WSJ this morning saying that the GOP has got to say NO right now to this bailout idea.
Yeah. You lose some of the details. Like the apostrophe and the t.
Parroting bert, George Will on Bret’s panel said there will be price controls. The insurance costs will be mitigated by healthcare price controls
just another Obama lie
No, it's a 'sweetener'. Because this is all so DAMN TASTY. I shake my head at the utter stupidity of this regime.
He meant, “No legally new bailout,” but that didn’t mean he wouldn’t stretch existing law to provide additional funds. It takes time to get used to weasel-speak.
Or in other words, Obama asked them to jump off the cliff to save his sorry hide.
Take whatever he says and turn it around Willy Wonka style and you have the truth.
“If you like your bailout, you can keep it. Period” LIAR!
Obama wants this ‘fixed’ until after the next election. He doesn’t give a damn about the people who got their insurance cancelled. He cares if he can get these folks off the front page until he can screw them over privately a year or two down the road when no one’s paying attention. This is the newest ‘bait and switch’ - the loooong con...
Put some numbers on it.
If an insurance company was counting on 1 million ‘yutes’, paying an average of $500 per month, and they don’t sign up ... the insurance company will be short $6.0 billion in revenues.
The FedGov gives them 80% [$4.8 billion] leaving the insurance company holding a loss of $1.2 billion ... which isn’t exactly chump change.
So it’s a bailout ... but not a complete bailout.
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