Did Marco Rubio Kill Obamacare?
on November 24, 2015
38 Comments
A post by Ed Lasky over at the American Thinker is making its way around the internet. Lasky suggests a little known bill introduced by Senator Rubio may have killed Obamacare. Naturally, we had to dig in.
Rubio first introduced similar legislation in 2013. Lumped into the 2014 Omnibus bill, the act passed. Because it was globbed into an appropriations bill, it has an expiration date.
The Obamacare Taxpayer Bailout Prevention Act was re-introduced by Rubio in January, the first piece of legislation he introduced in 2015, with companion legislation introduced by Rep. Andy Harris of Maryland.
The current version would eliminate tax-payer funded bailouts completely.
The Obamacare Taxpayer Bailout Prevention Act's premise is simple -- amend the Patient Protection and Affordable Care Act by striking out section 1342.
Sen. Rubio's office explained in January:
The bill would repeal section 1342 of ObamaCare, which establishes a risk corridor program to distribute money from exchange plans that earned profits to exchange plans that suffered losses. However, the risk corridor program was not designed to be budget neutral, and section 1342 of ObamaCare puts the American taxpayer at risk of a taxpayer bailout if insurers systematically lose money on exchange plans. By repealing Section 1342, the legislation would force the administration to come back to Congress to request appropriations to cover any losses in the program. ...“Under December’s omnibus spending bill, taxpayers are protected from bailing out insurance companies until September 30, but now Congress has the opportunity to take the possibility of a bailout off the table for good,” added Rubio. “By passing this bill, Congress will ensure that no bailout will occur, in 2016 or ever.”




