Washington Wants to Sneak Through a Bailout for Obamacare

By October 25, 2016Corporate Welfare

President Obama and his Administration want us to give millions of taxpayer dollars to big health insurance companies in order to keep his healthcare law from collapsing.

The Affordable Care Act (aka Obamacare) is failing because young Americans, who they are dependent on to fund the program, have refused to sign up. As a result, 17 of the healthcare co-ops have gone out of business, and top healthcare insurers such as Aetna and UnitedHealthcare have dropped out. Millions of Americans are without competitive healthcare plans meaning healthcare premiums and deductibles are skyrocketing. This makes the President’s healthcare law anything but affordable.

Now, insurance companies are demanding that politicians give our money to them in order to cover their losses.

President Obama and his Administration created two programs through backroom deals that give the White House slush funds to keep the healthcare law propped up. These programs have been giving insurance companies millions of our dollars to cover the losses they incur by participating in Obamacare. These corporate giveaway programs are expiring, and health insurance companies are lobbying Congress to keep the spigot of our money flowing into their pockets.

Not if we can help it.

Generation Opportunity, along with a coalition of over 50 national organizations representing millions of Americans, has called on Congress to “Bust the Bailouts” and not waste another penny of our taxpayer dollars on this failed healthcare law. Instead, we want to get back the taxpayer money wrongly given to insurance companies. [Read the letter here and watch a Facebook Live video].

Last week, President Obama hit college campuses to make the case to young people why they need to sign up. It’s a futile effort though as Generation Opportunity Policy Director David Barnes noted:

“President Obama is desperately trying to prop up his failing health care law. Young Americans in my generation are rejecting the unaffordable insurance plans sold on the Obamacare exchanges, and without us, it will keep failing… Simply put, we are avoiding it because it isn’t a good deal for us and it doesn’t lead to affordable healthcare.”

We need to ensure Congress takes action before the end of the year and that new members joining the Congress next year are committed to a fair healthcare system that works for everyone.

We need to send him a message: “Bust the bailouts!” Young Americans won’t stand for Congress throwing good money after bad situations.

You can take action now!

Author Patrice Lee

Patrice Lee is the National Spokesperson for Generation Opportunity.

More posts by Patrice Lee