Center for Freedom and Prosperity
For Immediate Release
Wednesday, November 20, 2013
202-285-0244
www.freedomandprosperity.org
CF&P Supports Senator Rubio’s ObamaCare Bailout Prevention Act
(Washington, D.C., Wednesday, November 20, 2013) The Center for Freedom and Prosperity supports Senator Marco Rubio’s (R-FL) recently introduced legislation (S. 1726) to eliminate an Obamacare provision that puts taxpayers on the hook for bailing out health insurance companies that lose money in Obamacare exchanges.
The Obamacare Bailout Prevention Act repeals section 1342, which established so-called risk corridors as a safety net for insurers during the first three years of the law. When combined with President Obama’s recent attempt to fix his broken promise that consumers would be able to keep their health plans, it provides a potential blank check for insurers courtesy of American taxpayers.
Center for Freedom and Prosperity President, Andrew Quinlan, commented, “Given recent attacks by the Obama administration, insurance companies must be feeling beleaguered. But propping them up on the backs of taxpayers already reeling from Obamacare’s ill effects is the wrong solution. We need to reduce government’s stranglehold over health care and the insurance market, not provide more crony handouts.” He concluded, “We are grateful for Senator Rubio’s leadership in bringing this issue to the fore.”
The Center for Freedom and Prosperity works to promote economic growth through free markets and limited government. For more information, visit freedomandprosperity.org.
For additional comments:
Andrew Quinlan can be reached at 202-285-0244, andy@freedomandprosperity.org
Brian Garst, Director of Government Affairs, can be reached at bgarst@freedomandprosperity.org
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