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Rubio pushes to repeal Obamacare's insurance company bailouts

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FILE - In this Thursday, June 13, 2013 file photo, Sen. Marco Rubio, R-Fla., speaks at the Faith and Freedom Coalition Road to Majority Conference in Washington. Rubio warned Tuesday, Aug. 13, 2013 that if Congress doesn't pass immigration overhaul legislation, President Barack Obama may act on his own to legalize the 11 million immigrants already in the U.S. illegally. Credit: AP

Obamacare includes a little-known provision that allows the federal government to dole out taxpayer dollars to health insurance companies who lose money under the new law.  Not surprisingly, conservatives are not happy about it.

Via the Washington Examiner:

Sen. Marco Rubio, R-Fla., said the provision could amount to a bailout of the insurance industry, which stands to lose if the troubled Obamacare exchanges fail to enroll enough people to make the system financially viable. Obamacare enrollment has already been stymied by glitches at the healthcare.gov sign-up site and it could be dampened again under an administrative fix President Obama proposed this week to resolve problems with millions of cancelled policies.

Rubio spokesman Alex Conant said the Tea Party-aligned senator and potential 2016 presidential candidate is concerned that the fix Obama proposed would increase the likelihood that insurance companies would need a federal bailout. And the existing law would effectively give Obama a blank check to deal with it, he said.

“We need to protect taxpayers from having to bail out anyone as a consequence of Obamacare," Conant said in an email exchange with the Washington Examiner. "Rubio's bill will fully repeal the 'risk corridor' provision in Obamacare, preventing a bailout."

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