Congress blocks bailout of ObamaCare insurers in spending bill

The spending bill released by Congress overnight dealt a victory to Obamacare oponents, blocking a bailout of insurers reporting losses through the healthcare program.

Payments to insurers through a once-obscure provision within the law known as the risk corridors have become a major issue as insurers have been losing money by participating in President Obama's healthcare law, forcing some to contemplate exiting the market.

The matter has been elevated to presidential politics, as Sen. Marco Rubio, R-Fla., has highlighted his role in saving taxpayers billions of dollars in Obamacare bailout money through his leadership on the issue. Last month, he sent a letter to Congressional Republican leaders urging them to include language in the omnibus spending bill blocking payments to the program.

Under the risk corridors program, which runs from 2014 through 2016, the federal government is to collect money from health insurers doing better than expected and use those funds to provide a federal backstop to other insurers who incur larger than expected losses from rising medical claims.

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