Obama is at it again… the companies writing health insurance policies under Obamacare have been losing money since day one by design, but were willing to go along with that because there were promises of huge subsidies by the federal government written into the Affordable Care Act.
The amount of those losses have turned out to be bigger than anyone could have imagined so the US Congress put a cap on those payments, which has created a situation where all but four of the insurance companies have stopped dealing with the Obamacare Exchanges and the last four are threating to drop the program too.
The US Government is being sued by a number of Obamacare insurance companies in an attempt to collect what they feel is due to them based on the original language of the law.
Turns out there is legislation in place that bans the use of regular funds to pay for any payments that arise from those legal actions, however the Obama administration has decided once again to bypass Congress and the will of the people and use an obscure 1950’s law that set up a limitless fund through the justice department to pay judgements resulting from law suits against the US Government. Obama is planning to use that loop-hole to funnel $1.2 billion to keep the market place insurance companies happy so his legacy doesn’t implode before he can leave office.