In political rhetoric that has a familiar ring, Republican Paul Ryan of Wisconsin says his colleagues in the House of Representatives are planning another attack on Obamacare as a major part of their strategy as the nation approaches another debt limit crisis.
“There are issues with Obamacare,” Ryan said in San Antonio Thursday. A lot of folks don’t realize there could be some massive insurance company bailouts in the near future with Obamacare that a lot of taxpayers probably don’t know about that we don’t want to see happen. That’s one of the issues that’s in the realm of possibility.”
Ryan said there is a “good chance” that the GOP will target what he calls “insurance company bailouts” as part of the negotiating an increase in the nation’s borrowing limit.
If the rhetoric sounds familiar it could be because Republicans have already introduced legislation focusing on the Obamacare “reinsurance fund” and “risk corridors” that the GOP considers “bailouts” similar to the “too big to fail” language used during the banking crisis.
In the Affordable Care Act, the fund exists to limit the risk to insurance companies and to try and present spikes in healthcare premiums.
Obama administration officials said last month they “might” make adjustments to the risk fund to “help health insurers adjust” to the new law.
Republicans, however, want to get rid of the reinsurance fund and risk corridors and allow insurance companies to charge whatever they want.