A delegation of leading senators are seeking to stop the Obama administration from providing some health insurers with a $2.5 billion taxpayer-funded bailout under a provision in the Affordable Care Act, or Obamacare, according to congressional communication exclusively obtained by the Washington Free Beacon.
The senators are petitioning their colleagues on key committees to ensure that U.S. taxpayers will not have to foot the bill for excess costs incurred by insurance companies selling low-cost coverage under the Obamacare program, according to the letter, which lambasts the healthcare program for burdening middle- and lower-class families.
The letter—sent Thursday to leaders on the Senate’s appropriations committee by Republican Sens. Marco Rubio (Fla.), Mike Lee (Utah), John Cornyn (Texas), John Barrasso (Wyo.), Cory Gardner (Colo.), David Vitter (La.), Jim Inhofe (Okla.), and Thom Tillis (N.C.)—centers around a contested Obamacare provision known as risk corridors.
Under this provision, the federal government compensates insurance companies if they wind up with larger costs as a result of selling cheap insurance policies to unhealthy individuals under Obamacare.
The senators are seeking to get language in the fiscal year 2017 budget that would ensure that the risk corridor program remains budget neutral amid attempts by the Obama administration to use some $2.5 billion in taxpayer funds to bailout insurers.
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RT if you agree Obamacare needs a #FullRepeal and not a bailout: https://t.co/Ch5l9PbEyy https://t.co/RaZuVmsfG0
— Ted Cruz (@tedcruz) June 10, 2016
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