On Monday’s broadcast of Newsmax TV’s “Chris Salcedo Show,” Rep. Greg Murphy (R-NC) said that health insurance companies are increasing premiums to help sagging stock prices and increase profits, but “it would blow up in our face, honestly, if we did not do something in the short term to push” the Obamacare subsidies that are due to expire.
Murphy said, “Obamacare was written by insurance companies, for insurance companies. And it exploded, and that’s why the Democrats had to quote have their temporary COVID relief to further expand the policies. Now they’re due to expire, and this is problematic for a lot of people in the country, because, look, also, if you’ll look at stock prices for insurance companies, these have been plummeting, so they have to have a way to bolster their stock, bolster their profits, so they’re raising premiums. There are other things to go along with premiums, but this is a good part of what’s happening.”
He added, “Democrats want more insurance company profits, they want this to push towards a single-payer system, and it’s — it would blow up in our face, honestly, if we did not do something in the short term to push these subsidies. But then we need to really, really, really have to get down to business as to why health care costs so much.”
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