Marco Rubio Looks to End Obamacare's Insurance Bailouts

U.S. Sen. Marco Rubio, R-Fla., a potential candidate for the Republican presidential nomination in 2016, unveiled a bill looking to ensure President Barack Obamas federal health-care law wont be used to bail out insurance companies.

Rubios bill would repeal risk coordinators included in Obamas health-care law and ensure Congress would be included if the federal government wants to cover insurance companies losses due to the law.

One of the biggest threats to the American dream is the rising cost of living, which Obamacare is making worse through rising health care costs and loss of coverage, said Rubio on Thursday. Taxpayers should not have to fund massive bailouts to protect the profits of the insurance companies that helped write Obamacare, which is why Ive been fighting for over a year to protect taxpayers from yet another bailout that puts them on the hook for Washingtons mistakes.

Under Decembers omnibus spending bill, taxpayers are protected from bailing out insurance companies until Sept. 30, but now Congress has the opportunity to take the possibility of a bailout off the table for good, Rubio continued. By passing this bill, Congress will ensure that no bailout will occur, in 2016 or ever.