Fox News: Obama Admin Prepping for Unlawful Bailout of Insurance Industry

‘You had to provide both belts and suspenders to reassure the insurance company that if they got stuck with too many sick people, they would be compensated’

Obama Admin Preparing For Unlawful Bailout of Insurance Industry (Washington Free Beacon)

The Obama administration is preparing for a potentially unlawful bailout of the insurance industry, Fox News’s Jim Angle reports.

The White House promised insurers they would compensate the companies if costs came in higher than expected due to greater numbers of unhealthy enrollees. “Insurance companies are at great risk and they may find that they have a lot of sick people and costs are way above what they thought they would be,” said the National Center for Policy Analysis’s John Goodman.

Obamacare architect Zeke Emanuel characterized the possible bailouts as “belts” and “suspenders” to support the insurance companies if they end up with too many sick policyholders.

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