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Rubio: Florida’s Abysmal ObamaCare Numbers Raise Likelihood Of Taxpayer Bailout

Jan 13, 2014 | Press Releases

Washington, D.C. – U.S. Senator Marco Rubio issued the following statement regarding today’s release of ObamaCare enrollment numbers that show only 21 percent of Floridians who have selected a plan so far comprise the 18-34 age group that administration officials have deemed crucial for the law’s survival:

“Because of ObamaCare, Floridians have lost insurance plans they were happy with, getting worse coverage, paying more for it, and now they’re on the hook as taxpayers for ObamaCare’s eventual failure. By any of these measures, ObamaCare is a failure.

“If not enough people sign up for ObamaCare, insurers will lose money and taxpayers will make up the difference. If not enough young and healthy people sign up, as is currently the case, taxpayers will have to pay even more.

“These enrollment numbers show that neither enough total people nor enough young people are signing up for ObamaCare, and it’s increasing the risk to taxpayers of bailing out health insurance companies. Congress should take the bailout option off the table right away by approving a bill I’ve introduced repealing this part of ObamaCare.”

Note: Last year, Rubio introduced S.1726, The ObamaCare Taxpayer Bailout Prevention Act, a bill that would eliminate a provision of ObamaCare that allows for taxpayer-funded bailouts of insurance companies at the Obama Administration’s sole discretion. Under ObamaCare’s section 1342, so-called risk corridors were established for the law’s first three years as a safety net for insurers who experience financial losses. Rubio’s bill would fully repeal the risk corridor provision, thereby ensuring that no taxpayer bailout will occur under ObamaCare’s section 1342.