Insurers Up in Arms Over GOP's New Obamacare Attack

The National Journal reports:

While Republicans spent years going for Obama- care's jugular, insurance companies kept calm and carried on. Through dozens of repeal votes in the House, including several that would have undone parts of the law the industry depends on, the largest firms stood on the sidelines. Throughout the nearly four years of post-Obamacare political maelstrom, their powerful lobbying operations let politics run their course. So why now—just as Republicans are changing their tack to take on a wonky, low-profile part of the law—is the industry alarmed?

Because this wonky, low-profile part of the law, perhaps more than any other, provides a safety net that insurance companies consider essential. And the attack on it has some large carriers on the verge of apoplexy, in part because Republicans have supported nearly identical programs in the past.

At issue are the Affordable Care Act's "risk corridors"—part of a three-pronged safety net designed to stabilize the insurance market in case ACA enrollment works out differently than expected. Through risk corridors, the government helps soften unexpected losses and shares in unexpected gains.

The struggles of economic fascism.