No Obamacare Insurance Company Bailout
American Commitment has joined over 30 free-market and conservative organizations and notable individuals on a letter organized by our friends at FreedomWorks urging Congress to pass legislation championed by Sen. Marco Rubio (R-Fla.) and Rep. Tim Griffin (R-Ark.) that would repeal a potentially unlimited taxpayer-funded bailout for big insurance companies through an obscure provision of Obamacare called "risk corridors."
The letter says:
Obamacare's risk corridor program is nothing more than a built-in, blank-check bailout of the health insurance companies. These annual, unlimited payments, intended to mitigate the law’s effects on insurers and mask its true costs, will in fact only encourage private companies to gamble with taxpayers' money. This bailout has no policy justification except to put taxpayers on the hook for losses incurred by private corporations.
The full letter is below.