Why not pass this $12 billion hit on to Barack Obama and the Democrats who support this piece of crap legislation?
Because Obama knew his Affordable Care Act was anything but affordable. Check out how the insurers who signed on to Obamacare now see things:
According to the LA Times,
The Supreme Court heard a $12-billion appeal from health insurers Tuesday who said they were promised their losses would be covered if they expanded under Obamacare only to see that promise later revoked by a Republican-led Congress.
This was a “massive bait-and-switch of staggering dimensions,” Washington attorney Paul Clement told the court. And it raises the question of “whether the government has to keep its word.”
Bait and switch? Interesting choice of words given all that we know about Obamacare. This legislation is the king of bait and switch. Remember when Obama told us, “If you like your plan, you can keep your plan.”
I wonder if the Supreme Court will consider this lie while ruling on the insurers’ cause of action?
Or, perhaps they will consider what the architect of the plan, Jonathan Gruber said:
So Obama won’t admit that he lied, but his minion Gruber explains the ruse.
The article continues,
The insurers won a mostly friendly hearing from the justices, who sounded somewhat surprised and skeptical of the claim that Congress was free not to pay for its past promises.
At issue was one part of the Affordable Care Act of 2010 that encouraged health insurers to offer coverage at reasonable rates to people who had been previously denied because of their preexisting medical conditions. The law said the government “shall pay” insurers if they lost money by offering this coverage. It also required them to pay the government if they made extra profits from the high-risk group.
But when the coverage began in 2014, the losses for insurers were higher than expected. And a year later, Republican lawmakers said they would not appropriate the money to cover those losses from 2014 to 2016. Many GOP lawmakers characterized the payments under the so-called risk corridors as a government “bailout.”
The insurers, some of whom were driven out of business, later filed claims in federal court that totaled $12 billion.
Sadly, ObamaCare endangered more than 133 million Americans, and we still pay the toll.
There is an easy solution. Make Democrats pay for this.
Democrats lied about the insurance. The costs, the benefits; they lied about everything.
So, why should taxpayers foot the bill…again? We got hijacked by premiums on practically unusable “insurance”. Now they want to saddle us with even more insult to injury?