This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
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Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host 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 Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
Rubio: More ObamaCare woes: Congress must act to block health insurance bailout
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”.
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