U.S. Senator Marco Rubio (R-FL) joined The Aaron Renn Show to discuss Rubio’s Labor Day report on working (and non-working) men. See below for highlights and listen to the full interview here. On protecting American jobs and interests: “We made a series of economic...
U.S. Senator Marco Rubio (R-FL) debated Senator Chris Coons (D-DE) on China, global leadership, and environmental policy at an event hosted by the Bipartisan Policy Center’s Senate Project at George Washington University. “We have to shape a future that recognizes...
Por Si Se Lo Perdió: Rubio Sobre la Coexistencia de la Inteligencia Artificial Y el Gobierno de EE.UU.
Inteligencia Artificial: El Congreso de EE.UU. debería pensar antes de regular la industria Por: El senador estadounidense Marco Rubio 22 de septiembre del 2023 Diario Las Américas “Es necesario legislar y aprender al mismo tiempo”. Esta broma reciente del senador...
Mexican tomato exporters are conducting unfair trade practices and dumping tomatoes into the U.S. market, despite the 2019 Tomato Suspension Agreement. This is forcing American tomato farmers out of business and destroying the domestic tomato industry. U.S....
U.S. Senator Marco Rubio’s (R-FL) office will host in-person and virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of...
El senador estadounidense Marco Rubio (R-FL) habló con Nio Encendio de Maxima 92.5 de Tampa Bay, sobre cómo la inflación ha impactado a las familias, sobre las olas de migración ilegal, sobre el juicio político de Biden vs. el de Trump, sobre el canje de prisioneros...
ICYMI: Rubio: More ObamaCare Woes: Congress Must Act To Block Health Insurance Bailout
More ObamaCare woes: Congress must act to block health insurance bailout
By Senator Marco Rubio
August 8, 2014
As evidence mounts of a looming taxpayer-funded bailout of health insurance companies under ObamaCare, the urgency grows for Congress to take this possibility off the table for good.
As expected, ObamaCare’s costs are rising, and health insurers are passing them along to patients in the form of higher premiums and deductibles.
Just this week, a majority of insurers offering health plans in Florida announced rate increases ranging from 11 to 23 percent. This means that if patients balk at paying this sharp increase and drop their coverage, these health insurers will have to make up the difference somehow.
Enter section 1342 of the ObamaCare law, which established so-called “risk corridors”.
According to this provision, taxpayers will make up the difference for health insurance companies whose plans lose money under ObamaCare. Last November, as it became clearer what this section of the law actually meant, I introduced legislation repealing it and protecting taxpayers from being forced to cover insurers’ ObamaCare losses.
Afterwards, as pressure from taxpayers mounted on the Obama administration, it announced that it had no intention of operating this bailout program at a net cost to the American people. As expected, health insurers and their lobbyists revolted. I called the administration’s bluff, and introduced new legislation that would codify into law what they have promised and prohibit this “revenue neutrality” from being achieved through use of taxpayer funds. Not surprisingly, it’s gone nowhere in the Democratically-controlled Senate, and the White House won’t go anywhere near it.
In recent weeks, the public has learned that senior White House officials have been working closely with insurers behind the scenes to make sure that their earlier bailout deal, which helped assure ObamaCare’s passage in 2010, would stand and that a taxpayer-funded bailout was still, in fact, on the table.
According to a recent investigation conducted by the House Oversight and Government Reform Committee chaired by Darrell Issa, insurers widely expect to receive funds from the bailout program. One large health insurer recently filed financial statements claiming they expect part of their revenue to come from American taxpayers via the ObamaCare bailout “fund”.
Keep reading here.