Thursday, January 16, 2014

Cost of Obamacare's insurer bailout program won't be known until summer 2015

Cost of Obamacare's insurer bailout program won't be known until summer 2015 | WashingtonExaminer.com:
"A program to refund insurance companies for losses incurred during the implementation of President Obama’s health care law could impose significant costs on American taxpayers, but under regulations issued by the Department of Health and Human Services, those costs won’t be known until the summer of 2015.

Republicans led by Sen. Marco Rubio of Florida and Rep. Tim Griffin of Arkansas have called for repealing what’s known as the risk corridors program, which has also been described as a bailout of the insurance industry.
Under the program, insurers have to estimate the amount of money they expect to pay out in medical claims each year along with their premium revenue and administrative costs.
Insurers who do significantly better than expected must pay HHS and those who do worse than expected receive money from HHS.
But it's remained an open question how much this could potentially cost."

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