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John Cornyn: “Insurance companies skim about 20% off of those taxpayer…”

Featuring: John Cornyn, Republican | U.S. Senate, Texas

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Cornyn Slams Democrats Dirty Obamacare Scheme for Waste, Fraud, and Abuse

Published | Video Starts at 03:35

They want it to continue going to insurance companies. President Trump has said, let's get the money to the consumer so they can choose what they want. I think that's a better idea. Plus, Insurance companies skim about 20% off of those taxpayer provided subsidies for their administrative costs and profit. And you know what? Insurance companies are among the most profitable companies in America, certainly since Obamacare started. (03:35–03:46)

CLAIM

Asserts that insurance companies take about 20% of subsidies for administrative costs and profit.

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