No Obamacare Bailouts for Insurers Without Congressional Approval, Says GAO | WHAT REALLY HAPPENED

No Obamacare Bailouts for Insurers Without Congressional Approval, Says GAO

y forcing Americans to buy their products, President Obama's signature Affordable Care Act is widely seen as a winning proposition for health insurance companies. Conscripted customers! What more could a well-connected business want? But the law's complex rules require insurers to cover the costs imposed by older and ailing customers with the payments from young and healthy customers. Potentially, a company could end up with a disproportionate ratio of sick customers drawn by the promise of subsidized coverage—drowning the seemingly winning proposition in red ink. If that happens, says the Government Accountability Office (GAO), the administration can't bail out insurers without permission from Congress.

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