“For months, there have been assertions that the mechanisms embedded in Obamacare, designed to offset losses that insurance companies will take this year on their exchange business, amount to a bailout of the insurance industry. Chief among them is that the money for the bailout doesn’t exist. It was never set aside… Congress would have to separately appropriate the funds in order for any money to be spent on the Obamacare plans. That was never likely to happen… Now we know where the “bailout” money is going to come from. It will be paid for by a new tax levied on the insurance companies.”
Posted on: Fri, 27 Jun 2014 02:28:04 +0000
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