| MAY 18, 2014
his first run for the presidency in 2008, President Obama blasted the influence of
lobbyists and vowed to take on the
industry if elected. Yet as president, he passed a health care law that funnels more than $1
trillion in subsidies to insurers, and fines Americans who do not purchase
their products. And on Friday, the Obama administration relented to pressure by
the insurance industry, vowing to use
additional taxpayer dollars to help bail out insurers from losses racked up as
part of his health care law.
concerns a provision in Obamacare known as
the risk corridors program, which was designed to stabilize insurance premiums
in the early years of the law's implementation. Essentially, the idea was to
have insurers who do better than expected pay money into a fund within the Department of Health and Human Services
that would then be used to finance payments to other insurers who rack up
larger-than-expected losses…..To Read More…..