Insurance bailout

When Obamacare was first proposed The President wanted the cost for the first ten years to be under one billion and that was the task assigned to the developers in the senate. To meet that goal the plan was started in 2010 but most of the benefits and therefor the cost didn’t start until 2014. By the start of 2013 the new cost estimates were over 2 billion and now they are up to 2.5 billion. People wondered why the insurance companies were in favor of Obamacare and the answer given was that it would supply them with 30 million new customers who would be forced to buy insurance. What wasn’t known was a clause in the law that said if the insurance companies lost money because too many old and uninsured signed up and too few young health people signed up, the government would step in with a bailout. At this point it looks as though that might happen and this will add more cost to the already over budget plan.