The Obama administration is willing to do anything, and to break any law, in order to prevent Obamacare from collapsing. Insurance companies like UnitedHealthcare and Aetna are currently losing billions of dollars as they try to sell these healthcare plans, and the administration is terrified that they’ll drop out this year.
Back in 2014, the Obama administration tried to avert this disaster by promising insurers a bailout funded with taxpayer dollars, but public outrage stopped this plan in it’s tracks. Now, the Obama administration is up to their old tricks again…
According to Right Wing News, Obama and his minions announced on February 12 that a whopping $7.7 billion will be handed out to insurers this year alone. This enormous handout to the insurance industry violates US law in a big way.
Section 1341 of the Affordable Care Act, which describes what money can be used for, clearly states that some of these annual fees belong to the public and not the insurance companies. The law states that a fixed share “shall be deposited into the general fund of the Treasury of the United States and may not be used” in order to offset insurance companies’ losses. However, the administration gave all of the money to the insurance companies last year, and now they want to do it again.
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