As the White House looks to make sure insurance companies don't lose money on Obamacare, such a move would be a slip toward making the government the only real player in health care, Athenahealth Chairman and CEO Jonathan Bush told CNBC on Wednesday.
"[That] would be very sad for all of us," said Bush, whose company makes Internet cloud-based solutions for medical billing and practice management.
In hundreds of pages of new regulations released last week, the Obama administration has quietly adjusted key provisions in the president's health-care law, according to an analysis by the Los Angeles Times. The moves would potentially make billions of additional taxpayer dollars available to insurance companies if they lose money, the paper said.
Bush has not been a huge fan of Obamacare. "What the administration should have done is, of course, let those players that are in the [health exchanges] choose a wider range of benefits than the ones the government makes them offer—so that different people could buy different things," he said in Wednesday's interview with CNBC's "Squawk Box."
Many critics have called for more a la carte choices on what's covered and what's not in order to avoid paying for unnecessary coverage.