Tuesday, January 14, 2014

Obamacare INSURES insurance companies from any loss via taxpayers


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Why should taxpayers have to bail out health insurance companies in the increasingly likely event that ObamaCare leaves them with financial losses?
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Sen. Marco Rubio
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Why should taxpayers have to bail out health insurance companies in the increasingly likely event that ObamaCare leaves them with financial losses?
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Washington’s authority for this bailout was buried deep inside ObamaCare, in the law’s section 1342. This provision authorized what are known as risk corridors that limit the amount of profit insurers could extract from the program and, most significantly, limit their losses.

This means that 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.
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(Obamacare limits insurers losses so its a win win for all insurance companies.

Obamacare INSURES insurance companies from any losses if not enough people sign up for oamacare!!!

Everyday more and more information comes out exposing our CORRUPT government.

How can America survive obama and his dictatorship?

I think America is being slowly destroyed and GOD is allowing it to happen because of the wickness of some Americans. It seems like obama is a "judge" over America that will continue to strip Americans of their freedom and prosperity.

Some people are praying to the Lord for relief from the corrupt federal government and state governments and local governments.

Some people continue to live in sodomy ,promote abortions, and ignore GOD's warnings of destruction because of sin.

It could be GOD is allowing America to self destruct via obama and people like him.) Story Reports
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Page 94 of PDF file HR3950 obamacare corrupt law text link Read it for yourself.
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PART V—REINSURANCE AND RISK ADJUSTMENT

Sec. 1342. Establishment of risk corridors for plans in individual and small group
markets.

SEC. 1342. ESTABLISHMENT OF RISK CORRIDORS FOR PLANS IN INDI-
VIDUAL AND SMALL GROUP MARKETS.
(a) IN GENERAL.

—The Secretary shall establish and administer
a program of risk corridors for calendar years 2014, 2015, and
2016 under which a qualified health plan offered in the individual
or small group market shall participate in a payment adjustment
system based on the ratio of the allowable costs of the plan to
the plan’s aggregate premiums. Such program shall be based on
the program for regional participating provider organizations under
part D of title XVIII of the Social Security Act.
(b) PAYMENT METHODOLOGY.—
(1) PAYMENTS OUT.—The Secretary shall provide under the
program established under subsection (a) that if—
(A) a participating plan’s allowable costs for any plan
year are more than 103 percent but not more than 108
percent of the target amount, the Secretary shall pay to
the plan an amount equal to 50 percent of the target
amount in excess of 103 percent of the target amount;
and
(B) a participating plan’s allowable costs for any plan
year are more than 108 percent of the target amount,
the Secretary shall pay to the plan an amount equal to
the sum of 2.5 percent of the target amount plus 80 percent
of allowable costs in excess of 108 percent of the target amount.

2) PAYMENTS IN.—
The Secretary shall provide under the
program established under subsection (a) that if—
(A) a participating plan’s allowable costs for any plan
year are less than 97 percent but not less than 92 percent
of the target amount, the plan shall pay to the Secretary
an amount equal to 50 percent of the excess of 97 percent
of the target amount over the allowable costs; and
(B) a participating plan’s allowable costs for any plan
year are less than 92 percent of the target amount, the
plan shall pay to the Secretary an amount equal to the
sum of 2.5 percent of the target amount plus 80 percent
of the excess of 92 percent of the target amount over
the allowable costs.
(c) D
EFINITIONS
.—In this section:
(1) ALLOWABLE COSTS
.—
(A) IN GENERAL
.—The amount of allowable costs of
a plan for any year is an amount equal to the total costs
(other than administrative costs) of the plan in providing
benefits covered by the plan.
(B) REDUCTION FOR RISK ADJUSTMENT AND REINSURANCE PAYMENTS
.—Allowable costs shall reduced by any
risk adjustment and reinsurance payments received under
section 1341 and 1343.
(2) TARGET AMOUNT
.—The target amount of a plan for
any year is an amount equal to the total premiums (including
any premium subsidies under any governmental program),
reduced by the administrative costs of the plan.

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