Rubio Touts Measure In Omnibus To Stop ObamaCare Taxpayer-Funded Bailout Of Health Insurance Companies

Statement

U.S. Senator Marco Rubio (R-FL) issued the following statement regarding today's release of an omnibus appropriations bill that includes a measure advocated by him to once again prevent a taxpayer-funded bailout of health insurance companies incurring a financial loss under ObamaCare. In December 2014, Rubio's efforts resulted in getting the same ObamaCare bailout prevention provision into the appropriations bill that passed at the time.

"ObamaCare must be repealed and replaced under the next president, but stopping the taxpayer-funded bailout of health insurance companies now is a big win for taxpayers and all Americans who are fed up with crony capitalism that Washington wants them to pay for," said Rubio. "There is simply no way to justify taxpayers bailing out health insurance companies.

"‎ObamaCare's bailout provision has nothing to do with helping people access health insurance, but it has everything to do with how big businesses in this country game big government to increase their profits, and how big government games big businesses to increase government's reach into our lives," continued Rubio. "If the only way ObamaCare can survive is by bailing out insurance companies, then guess what: it should not survive.

"I will continue reviewing the larger omnibus bill before deciding whether to support or oppose it, but I'm pleased it at least stops the ObamaCare bailout for another year," added Rubio. ‎"I realize that the Obama Administration, health insurance companies and their lobbyists will be back next September clamoring for Congress to provide billions of taxpayer dollars to bail them out for losing more money because of ObamaCare, but I'm pleased to know the Republican congressional leadership stands with me in stopping that from happening."‎

On page 947, Section 225 of the bill released today, it makes clear that the risk corridors program in ObamaCare can only cover health insurers' losses using fees paid by the companies, not taxpayer dollars. Last year, this provision saved taxpayers $2.5 billion.

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