Republicans responded in outrage after a little-known provision in Obamacare, which would bail out insurance companies who lose money under the new law, came to light.
The provision dictates that if there are not enough Obamacare enrollments to make the system financially viable, the federal government will use taxpayer money to pay the insurance industry for lost funds.
Sen. Marco Rubio first noted that the provision could lead to a bailout.
“We need to protect taxpayers from having to bail out anyone as a consequence of Obamacare,” Alex Conant, Rubio’s spokesperson said.
Conant added that Rubio is also concerned with the fix Obama suggested last week to resolve problems with cancelled policies. The fix would increase the likelihood of a bailout, according to Rubio.
“Rubio’s bill will fully repeal the ‘risk corridor’ provision in Obamacare,” Conant argued, “preventing a bailout.”
Jon Gruber, an economist at MIT and architect of Obamacare, dismissed Rubio’s repeal idea. He noted that Rubio was merely “trolling” Obamacare supporters.
The text of Rubio’s legislation has yet to be released, though it is expected to be introduced as soon as possible this week, according to Conant.