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Collins: it’s ‘not an insurance company bailout…

Collins: it’s ‘not an insurance company bailout…

ANYTHING IN THE MEANTIME TO
HASTEN THAT COLLAPSE.
>> AS YOU NOTE, THE PRESIDENT IS
ALSO THREATENING TO CUT OFF WHAT
HE CALLS BAILOUTS FOR INSURANCE
COMPANIES, PRESUMABLY REFERRING
TO THE PAYMENTS THE GOVERNMENT
MAKES TO INSURANCE COMPANIES TO
REDUCE THE COSTS FOR LOW-INCOME
AMERICANS.
THE TRUMP ADMINISTRATION HAS
THREATENED TO WITHHOLD THIS
MONEY BEFORE, WHICH HAS LED TO
UNCERTAINTY AMONG INSURANCE
PROVIDERS.
IF PRESIDENT TRUMP WERE TO
OFFICIALLY WITHDRAWAL THAT
FUNDING, WOULD THAT AFFECT YOUR
VOTE ON HEALTH CARE?
>> IT WOULD NOT AFFECT MY VOTE
ON HEALTH CARE.
BUT WOULD SET AN EXAMPLE OF WHY
WE NEED TO ACT, TO MAKE SURE
THAT THOSE PAYMENTS, WHICH ARE
NOT AN INSURANCE COMPANY
BAILOUT, BUT RATHER HELP PEOPLE
WHO ARE VERY LOW INCOME, AFFORD
THEIR OUT-OF-POCKET COSTS
TOWARDS THEIR DEDUCTIBLES AND
THEIR CO-PAYS.
SO IT REALLY WOULD BE
DETRIMENTAL TO THE MOST
VULNERABLE IF THOSE WERE CUT
OFF.
THEY'RE PAID TO THE INSURANCE
COMPANIES BUT THE PEOPLE THAT
THEY BENEFIT ARE PEOPLE WHO MAKE
BETWEEN 100% AND 250% OF THE
POVERTY RATE.
SO, WE'RE TALKING ABOUT LOW
INCOME AMERICANS WHO WOULD BE
DEVASTATED IF THOSE PAYMENTS
WERE CUT OFF.
THE THREAT TO CUT OFF THOSE
PAYMENTS HAS CONTRIBUTED TO THE
INSTABILITY IN THE INSURANCE
MARKET.
BUT WHAT CONGRESS NEEDS TO DO IS
TO START BY THE FIRST BILL THAT
WE SHOULD CONSIDER IS HOW TO
STABILIZE THE MARKET.
AND THAT IS A KEY COMPONENT

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