Here is some more proof that the insurance companies were in cahoots with the Obama administration:
In a ruling that could end up affecting many Obamacare insurers — and billions of dollars — a judge Thursday ordered the federal government to pay Oregon-based Moda Health more than $200 million that the insurer says it was shortchanged.
The ruling found that the government could not fail to honor a promise that entailed making payments amounting to $214 million to Moda Health under Obamacare’s so-called risk corridor program.
That program, which is designed to offset losses from selling Obamacare plans, was created to help lure insurers into the Obamacare marketplaces.
What does this mean? Well, for one, the insurance companies were in a win-win situation. In order to “get them on board”, President Obama had to promise them the world and now they will receive it. The sleaziest and most greedy companies in the world were handed the keys to the kingdom. Yes, I know, they were pricks even before Obamacare and gouged the hell of us but that just proves my point even more. Why give them more?
So, there is now supposedly $8 billion in losses out there. It is called a risk corridor. Guess who will be paying that? You and your taxes.
I wish someone gave me a risk corridor.