GOP Cries Foul Over Obama Admin's Plan To Divert Funds For Health Insurance Bailout (Video)

Townhall.com Staff
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Posted: May 22, 2014 1:11 PM

In recent weeks, the Department of Health and Human Services released new regulations that pave the way for tax-payer bailout for insurance companies that lost money on ObamaCare. 

Originally, the Obama administration promised its so-called "risk corridors"--a program to shift money from profit-making insurers to underperforming insurers to keep down premiums--would be temporary. On Friday, however, HHS said despite the fact that it expects there will be sufficient funds available, "in the unlikely event of a shortfall for the 2015 program year... [the Department of Health and Human Services] will use other sources of funding for the risk corridor payment" and that additional funding would "be subject to the availability of appropriations."