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In the private markets and also goth in terms of what it s been able to provide through medicare, obviously recognized as the gold standard in terms of providing the kind of care that many people are wishing they could sign up for. and so this is going to provide an opportunity for them to do so. we also strengthen traditional insurance through, you know, creating risk corridors, reinsurance and making sure that our subsidies are more generous to more wealthier states, et cetera, to ease the costs for the middle class. we also volume discounts. let me bring just so our viewers know for those of nem who are not on medicare what s involved in med conveyor. medicare is federal coverage it s actually pretty close to what a lot of people call a single pair system. 65 or older or with a severe disable. it s funded by taxes, premiums and the budget. benefit payments in 2015 totaled ....
Went away. he s threatening to cut the subsidies, the cost sharing with insurance companies that go to low income american. that s one of the threats. the other threat is the subsidies that congress get. the subsidies that go to the insurance companies, they re called the risk corridors. this is one of the reasons that we have to fix this. i hear from people all the time about the cost of insurance. when you look at the $9 million in, the affordable care act that is why the president keeps saying, you know, we need to look at those subsidies. it s why we keep saying this has to be fixed, the insurance is too expensive to afford. when you re talking about only ....
Hurting americans. he pointsed to alaska, to missouri it, pennsylvania. he did not mention ohio. why do you think that is? and what will happen in your state if repeal or replace goes through. well, there are areas where it s not working like it should. and we need to fix those problems in high risk areas where insurance companies can t make money. we were actually trying to help insurance companies stay in those areas to cover people so we would give insurance companies payments. otherwise, those people wouldn t get any health insurance. republicans are unwinding that. so the insurance companies are losing money. so the companies pull out of those high risk areas, risk corridors and turn around and say look, obamacare is not working. they re undermining this at every turn. let s fix those things where there are high premiums, let s fix that. let s figure out how to get more people in the pool to drive down costs. those are appropriate things for us to do. but here s the bottom line, ....
The things that we ve been talking about for the last seven years. if we don t do that, our base is depressed. and if the base is depressed and angry, they might not turn out in 2018 and that s a huge political risk. but what about policy failure? i think the policy failure is obamacare. in my home state, there is one individual insure. last year they raised cost by 34% and this year it s 27%. and an obamacare supporter would say it because marco rubio got rid of the risk corridors. obamacare is failing for the people who need it. so the question is what should the republican administration do, do they try to prop it up while congress sits here and negotiate failure is not an option then why not help keep it working? we re working on a senate bill that will be conservative health care reform, lower taxes, ....
The exchanges, costs went up too high in exchanges and a lot of reasons for that, including, sabotage by trump and also by republicans getting rid of something called the risk corridors. and we should work on prescription drugs. that s what we wanted to do. they have kept some of the basic structure of the affordable care act. i think cruz says he s not going to vote for it because well, it s cruz. the point is that they went off in street, 13 of them, mike lee who is one of the 13 was complaining two days ago that he hadn t seen this. so i don t know of the 13 how many had anything to do with it. this is a terrible bill. why? it s because it cuts medicaid to the same degree that the house bill does. it just delays it some, and it s hundreds of billions of dollars ....