THE SCOURGE OF OBAMACARE CONTINUES: LOSSES INCURRED AT ACA EXCHANGES WILL COST TAXPAYERS $12 BILLION THIS YEAR
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When the tyrannical Democrat majority shut down the federal government in 2013 to force Americans without health insurance to pay fines for the Affordable Care Act, Americans had no choice but to accept their chains and hope that the law would make healthcare more affordable. Not everyone accepted those chains.
As health insurance premiums went up for many and as fines mounted, Obamacare became increasingly unpopular with the American people. Since then, Obamacare has become a scourge to the country, costing taxpayers so much money, Congress now refuses to appropriate money to pay for the multiple billions of dollars lost over the years. In fact, losses incurred at the ACA exchanges are set to cost taxpayers $12 billion this year. Insurance companies are currently petitioning the Supreme Court to force Congress to appropriate taxpayer money to cover for Obamacare’s incredible amount of losses.
Obamacare was a tyrannical financial scourge from the beginning
In the beginning, the authoritarians who set up Affordable Care Act thought they could offset the insane costs of Obamacare by mandating harsh fines on Americans who did not purchase health insurance. The fine, dubbed a “tax” by the Supreme Court, ultimately went on to burden the poor, working families in the country. When the 45th President took office, he quickly put an end to the Affordable Care Act’s individual mandate, restoring freedom and lifting a financial burden off of millions of a families and individuals. As the country continues to overcome the financial choke hold of Obamacare, the repercussions of this law have just begun.
As a matter of fact, there are now $12 billion in losses incurred by the Affordable Care Act exchanges for the upcoming fiscal year. The next financial wave of pain is about to be felt by the Obamacare swindle. When the law was passed, Congress was required to appropriate taxpayer money to pay insurers for losses that were incurred at the ACA exchanges. A coalition of insurance companies approached the Supreme Court in December, demanding that the government (essentially the taxpayers) pay to cover the $12 billion in losses caused by Obamacare. According to the law’s risk sharing provision, Congress “shall pay” insurers to help cover any losses incurred by the ACA exchanges.
Supreme Court believes taxpayers must bail out health insurance companies
The Supreme Court now agrees that Congress (taxpayers) must bail out the health insurance companies. Obamacare was essentially a bail-out scheme all along — a swindle that siphoned money from the working people to bolster the power and bottom line of health insurance companies and pharmaceutical companies. Under the ACA exchanges, insurance companies were bribed (promised a bail out) if they took on clients who had preexisting conditions. The insurance companies, agreeing not to charge higher premiums on these high-risk clients, were ultimately promised the money anyway by using the ACA as a tax man to rob the taxpayers in the end.
The Trump Administration, trying to protect the American people and the economy from the scourge of Obamacare, told the justices that Congress is not obligated to pay for the billions lost by the ACA exchanges: “HHS was required and empowered to make payments only to the extent Congress appropriated funds to do so — and Congress was free to decide whether and to what extent to fund those subsidies.”
The Supreme Court majority, always quick to defend the Obamacare swindle, believes that Congress must set aside money to bail out the insurance companies. On the other hand, Justice Samuel Alito did ask, “Has there ever been a case where this Court has, in effect, required Congress to appropriate…billions of dollars for private businesses?”
This insane cost, potentially to be burdened on taxpayers, does not include the increases that the average American now pays for individual market coverage. According to University of Pennsylvania economists, the cost of premiums plus out-of-pocket payments has increased by 14% to 28% as a result of the Affordable Care Act.
Sources include:
https://www.naturalnews.com/2019-12-23-obamacare-losses-to-cost-taxpayers-12-billion-this-year.html