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This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.

Tuesday, November 19, 2013

No Bailouts for ObamaCare -- By Marco Rubio, The Wall Street Journal

With every passing day, ObamaCare's flaws are being exposed in painful ways for the American people. What started as a broken website—and nonexistent Spanish one—is now snowballing into a full-scale disaster that makes it increasingly clear this law can't be fixed.

Under ObamaCare, people are being recklessly exposed to identity theft and fraud through the dysfunctional website and navigator network.

Under ObamaCare, President Obama's broken promise—that people could keep the health plans and doctors they were happy with—has made casualties of those plans and providers. Now people have to scramble to find new plans and doctors that often cost more than before. If they don't find them, a tax fine enforced by the Internal Revenue Service will ensue.

Under ObamaCare, abysmal enrollment numbers so far are a warning sign that this law will cost the American people more—and in more ways—than they ever imagined.

One of these ways was exposed last week after President Obama announced his unilateral action to "fix" his broken promise that Americans could keep their existing plans: a bailout of health-insurance companies.

Buried deep in the Department of Health and Human Services' press release that accompanied the president's Nov. 14 speech was this sentence: "Though this transitional policy was not anticipated by health insurance issuers when setting rates for 2014, the risk corridor program should help ameliorate unanticipated changes in premium revenue. We intend to explore ways to modify the risk corridor program final rules to provide additional assistance."

Risk corridors are generally used to mitigate an insurer's pricing risk. Under ObamaCare, risk corridors were established for the law's first three years as a safety-net for insurers who experience financial losses. While risk corridors can protect taxpayers when they are budget-neutral, ObamaCare's risk corridors are designed in such an open-ended manner that the president's action now exposes taxpayers to a bailout of the health-insurance industry if and when the law fails.
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