The government funding bill unveiled late Tuesday night includes a provision touted by Sen. Marco Rubio (R-Fla.) that would prevent what Republicans call a “bailout” of health insurers under ObamaCare.
The provision restricts an ObamaCare program known as “risk corridors” that is meant to shield insurers from heavy losses in the early years of the law. The program takes money from insurers doing well and gives it to insurers faring poorly.
However, the program has taken in only enough money to pay out a fraction of the amount requested. The Republican-backed provision would prevent the administration from shifting other funds into the program to make up the difference.
“Why should American taxpayers be bailing out insurance companies, many of whom cooperated with, conspired with alongside the Obama administration to get Obamacare passed?” Rubio said in an interview with Breitbart last month.