ObamaCare's Blank Check Bailout

In 2013 only a handful of regional health insurance companies, most notably Universal Health Care Group, Inc. in Florida, filed for bankruptcy protection. The National Association of Insurance Commissioners reports the largest 125 health insurers collected approximately $713 billion in premiums in 2012. For decades healthcare insurers denied coverage to individuals with preexisting conditions under the guise that doing so would have sent them into a financial death spiral. Now insurers are threatening to raise premiums unless they are protected from the increased costs of insuring sicker people under ObamaCare. And again the Obama administration has yielded to their latest demand, even though the law already provides afinancial safety net for insurers. The ObamaCare Risk Adjustment Programs are designed to protect insurers from the very loss they claim they are now vulnerable to. The law’s risk adjustment models were developed using the Medicare Part C (Medicare Advantage)...(Read Full Article)

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