It’s more than a little shocking to witness the levels of lying and deception that Republicans continually resort to when attacking the Affordable Care Act, particularly their claims about it’s “failing” and “so expensive.”
The Republicans have caused Obamacare’s problems. Just like Sarah Palin lied about the “death panels” but the gullible Republican base “bought” the lie, so Republicans in Congress refused to fund the ACA provisions that reimbursed insurance companies for the expected high losses (called “risk corridors”) they would initially suffer as millions people who had pre-existing conditions could get insurance for the first time, and would then finally get treatment.
Then in 2015, Marco Rubio and other Republicans set out to gut the risk corridor payments, and instead of the insurance companies getting the expected $2.9 billion for their losses, they got only $400 million. This forced insurance companies to do the only things they could: Pull out of (mostly red) states with low incomes and thus poorer health, and jack up prices in other states to make up their losses. Rubio’s “hack” was repeated in 2016, leading to the large rate increases just before the 2016 election.
Search for "Marco Rubio Quietly Undermines Affordable Care Act.”
Keep Gianforte in private sector
Women’s unique challenges in retirement planning
Advisor News
- When new investment trends emerge, Gen Z is most likely generation to be first in
- Could ‘plain English’ become an advisor’s secret weapon?
- IRI urges Senate action on 403(b) parity legislation
- Three estate planning ideas to protect your clients and their wealth
- What advisors must know about accessible client documents
More Advisor NewsAnnuity News
- NUNN INTRODUCES BILL TO CUT RED TAPE, GIVE IOWANS CLEARER INSURANCE INFORMATION
- NAIC working group pressed to accelerate annuity illustration overhaul
- State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
- Wink: Annuity sales post strong Q2, led by MYGAs and structured products
- Legacy Marketing Group partners with Malibu Life USA for annuity launch
More Annuity NewsHealth/Employee Benefits News
Life Insurance News