[Ed. – Obama gone but still sticking it to the American taxpayer.]
Guess who’s on the hook in one of the largest lawsuits ever? You.
More than 100 health-insurance companies are suing you and the rest of America’s taxpayers. Insurers want you to bail them out for money they lost trying to sell ObamaCare plans — a whopping $15 billion. A ruling from the Court of Appeals for the Federal Circuit is expected any day.
It’s a brazen money grab. In 2010, powerful insurance-industry officials worked hand in glove with Democrats to enact the Affordable Care Act, a scheme compelling everyone to buy health insurance. It doesn’t get any sweeter than that: a law making your product mandatory.
But insurers are seeking even more. They claim their cozy deal also insulated them from losing money during the first three years they tried to sell ObamaCare plans. Maybe that’s what Obama administration officials whispered to health insurers. But the actual wording of the ACA didn’t commit a single dollar of taxpayer money to offset losses. And twice since then Congress has passed additional laws clarifying that taxpayers will not be compensating insurers who lose money on ObamaCare.