Government Transfer of Wealth from the Middle-Class to the Super Rich

I have to ask you something. Do you pay taxes?

If you do, did you know you’re on the hook to bailout health insurance companies?

That’s right. A portion of your hard-earned money has already been earmarked for these industry giants. To cover their losses under Obamacare.

My friend, this is one of the most underhanded things that I have ever seen. And given we’re talking about Washington D.C.… that’s pretty bad.

Soak the Taxpayers

Here’s the gist of how this deal got made.

The big health insurance companies worked with the U.S. government to push and promote the Affordable Care Act.

Under the Affordable Care Act everyone—every citizen in the country—is required to purchase health insurance. That’s quite a win for insurance companies. I mean, how many businesses do you know where people have to purchase your product or else pay fines?

But there is a downside for insurance companies. Covering everyone means covering people who are already sick. These are folks the insurance companies know they will pay more for than they will take in.

No problem. There’s a solution in the Affordable Care Act. The American taxpayers will bailout the insurance companies for any losses they suffer for complying with the law.

Once that clause was in place, the insurance companies started lowering their fees. It made them look good to their new customers. And the government approved because it gave them a success story to point to … “Look at all these people who can afford healthcare now. See we told you it wouldn’t drive up prices.”

But the bill is coming due. Eighty percent of health insurance companies are expecting a bailout from the government this year. Eighty percent!

Six Ways to Sunday…

How many ways does the Affordable Care Act screw average citizens like you and me? Well, let’s see:

• You no longer have access to the your original healthcare plan … the one that if you liked, you’d be able to keep. Yeah. It’s gone.
• You may have lost access to your doctor when Obamacare came on line.
• Your premiums may very well have gone up—they’re projected to go up by an average of 8 to 15 percent at the end of this year.
• Fewer new doctors are entering the field, so your level of care is going down.
• A lot more new patients are seeking treatment. And there aren’t enough new medical professionals to meet the demands. So your level of care is going down some more.
• Oh, and now, you’re going to pay for it. Not just through your premiums. Not just through your taxes paid out as subsidies to those too broke to pay for their own premiums. But also through your taxes … directly to the health insurance companies who helped to push this nightmare through.

Where are the Republicans?

As news of this bailout deal has come to light, the average American has reacted with disgust. More than 80% of people asked about the bailout say it’s a terrible idea.

Obama has promised not to use the bailout program in a way that will result in a net cost to taxpayers. Meanwhile, it’s become public knowledge that the White House has been quietly working with insurance companies to reassure them that the bailouts are still on the table.

In fact, according to Senator Marco Rubio (R), the Department of Health and Services has gone so far to set up a plan to bailout insurance companies from the general funds available through Medicare and Medicaid. That way they don’t have to convince Republicans in the House to budget for the bailouts.

Save for a few Republicans like Rubio, the GOP is pretty much silent on this issue. In fact, early in October, Republican leaders in the house killed a bill that would prevent these bailouts.

This is another of those issues where your representative and your Senators need to know where you stand. Call, write, or email your Congressmen today to tell them what you think of the Obamacare Insurance Bailout.