U.S. Senator John Barrasso (R-Wyo.), Senate Majority Whip, criticized the Democrats’ proposed $83 billion extension of the so-called Biden COVID Bonus Payments during a speech on the Senate floor in Washington, D.C. The plan would continue direct federal payments to insurance companies for another three years without implementing reforms to the Affordable Care Act (Obamacare).
Barrasso argued that these extended subsidies have resulted in widespread fraud and increased costs. “Biden COVID Bonuses are a bad prescription because the side effects are so harmful. Widespread fraud and corruption. Direct payments to line the pockets of big insurance companies. Taxpayer-subsidized healthcare for millionaires.”
He stated that current policies allow even high-income earners to receive government subsidies intended originally for those most in need. According to Barrasso, “You can earn a million dollars a year and still get subsidized handsomely by what the Democrats are proposing and they’re bringing to the Floor to be voted on this week.”
The senator referred to recent findings from the Government Accountability Office (GAO), which conducted an investigation into Obamacare’s enrollment process. The GAO submitted 24 fake applications through exchanges, and 23 were approved for subsidies. Additionally, it found one Social Security number was used for enrolling 125 different policies, all receiving subsidies, and identified 58,000 numbers matching death records that were also receiving benefits.
Barrasso pointed out rising insurance premiums since Obamacare became law: “Premiums have risen over 220 percent since Obamacare became law.” He argued that continued subsidies only encourage higher profits for insurance companies without addressing cost control or competition issues in health insurance markets.
Throughout his remarks, Barrasso maintained his opposition: “If Democrats get their way, premiums are going to keep going up, insurance companies are going to continue to collect big checks from taxpayers, directly into their bank accounts, and there will be no reforms to stop the fraud.” He called instead for policies that empower families with more choices at affordable prices.
