As expected, taxpayers will be giving health insurance companies a taxpayer funded bailout resulting from their participation in ObamaCare.
Writing in Forbes, Scott Gottlieb reveals that Humana – a large health insurance company – will be getting up to $450 million from the bailout provisions in ObamaCare.
Now we have some hard numbers. Humana announced that it expects to tap the three risk adjustment mechanisms in ObamaCare for between $250 and $450 million in 2014. This amounts to about 25 percent of the insurer’s expected exchange revenue. This money is needed to offset losses that the insurer will take as a result of slower enrollment in its ObamaCare plans, and a skewed risk pool that weighs more heavily toward older and less healthy members than it originally budgeted.
Bailing out private companies with taxpayer money is outrageous especially with our soaring national debt.
Stopping the ObamaCare bailouts is a key program at FreedomWorks where we are mounting an effort to encourage Aetna not to accept taxpayer money.