No Bailouts for Insurance Industry Act of 2014 - Repeals requirements under the Patient Protection and Affordable Care Act for: (1) a transitional reinsurance program for the individual health insurance market in each state, and (2) a program of risk corridors for calendar years 2014-2016 under which a qualified health plan offered in the individual or small group market shall participate in a payment adjustment system based on the ratio of the allowable costs of the plan to the plan's aggregate premiums.
Applies the repeal of the transitional reinsurance program to plan years beginning after enactment of this Act and provides rules for applying the provision before such date.
Applies the repeal of the risk corridors program to calendar years beginning after enactment of this Act.