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Rand Paul: Healthcare Bill Is “A giant Bailout Superfund For Insurance Companies”

Published: July 17, 2017
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Source: Steve Watson

Republican Senator Rand Paul hit out at GOP healthcare legislation Sunday, warning that the bill isn’t a repeal and keeps the “fundamental flaw” of Obamacare.

“I think the longer the bill is out there, the more conservative Republicans are going to discover that it’s not repeal, and the more that everybody is going to discover that it keeps the fundamental flaw of Obamacare.” Paul said on CBS’ Face The Nation.



“It keeps the insurance mandates that cause the prices to rise, which chase young, healthy people out of the marketplace, and leads to what people call adverse selection, where you have a sicker and sicker insurance pool, and the premiums keep rising through the roof.” the Senator urged.

Paul noted that while Republicans have complained ad nauseum about Obamacare, they still intend to keep its core intact in their bill, expected to be further debated this week.

“And the reason you know Republicans acknowledge this is, they make a giant insurance fund to subsidize those prices.” Paul said.

“Basically, they’re subsidizing the death spiral of Obamacare.” the Senator exclaimed.

“So, for all Republicans’ complaints about the death spiral of Obamacare, they don’t fix it. They simply subsidize it with taxpayer moneys, which I just don’t agree with at all.”

Paul said he will be voting against the GOP bill because it is not consistent with his principles.

“it’s absolutely wrong. It’s not all consistent with conservative principles, free market principles, or being a Republican.” he said.

“And it also has nothing to do with repeal. I mean, we promised the voters for four elections. They elected us to repeal Obamacare, and now we’re going to keep most of the taxes, keep the regs (regulations), keep the subsidies, and create a giant bailout superfund for the insurance companies. I just don’t see it.”

“I’m not for any taxpayer money going to … an industry that makes $15 billion a year,” the Senator affirmed.

Paul outlined his own vision for replacing Obamacare, suggesting a system where “everyone in the individual market can join a group plan.”

“I’d let group plans be formed by anybody that wants to form them. Chamber of Commerce, a farm bureau, credit unions, you name it. I’d let anybody form an association. And what would happen is almost everybody would flee the individual market because it’s a terrible place,” Paul noted, explaining that “the insurance companies have gamed the system.”

“They get enormous profit from the group plans, and then they lose money in the individual markets and they whine, and they come to Washington, they write the bill, and they get bailed out. It’s a terrible situation.” Paul urged.


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