Dick Morris discovers Obama Bailout of insurance companies

President Obama has apparently approved, through his signature bill, a massive bailout of the insurance companies that are involved with Obama care. According to Dick Morris, political analyst and commentator, this is the most secret trillion dollars in the American budget. The US government is going to pay health insurance companies, under the terms of Obamacare, a $1 trillion subsidy over the course of the next decade. In a recent video to his subscribers, Dick Morris explains how the program is going to work...


"When you're Insured under Obama care, the first $45,000 of the medical expenses that you are incur are covered by your insurance policy. After that $45,000 the government has told the insurance companies that they will pick up 80% of any losses beyond that point. And every year the insurance companies are supposed to estimate what their losses will be and adjust the premium levels accordingly. But if they're wrong, if they under estimate, and the losses come in higher than what they anticipate, the federal government will pay 80% of the cost of that overrun. And the sky is the limit.

This was built into the bill as a way of winning the support of the insurance companies. But it essentially gives the insurance companies a privileged existence, even above GM and even above many of the tarp bailout companies. It is, in effect, the government having a re-insurance policy to back up the private, profit making insurance companies. It is estimated to cost over $1 trillion over the next 10 years. It's an absolute outrage", explains Dick.

Even those that have studied Obama care extensively were unaware of this part of the bill. It is essentially a raid on the American budget. It allows the insurance companies to sign up people for Obama care that are old and sick and require expensive care without having to increase insurance premiums as they normally would. That's because whatever losses they incur will be covered (bailed out) by the the American tax payers.

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