Health care consumers will suffer from President Trump's decision to cut off ObamaCare's cost-sharing reduction (CSR) subsidies, two of the largest insurance trade groups said in a statement Friday.
National Association of Insurance Commissioners president Ted Nickel said in a statement Thursday that while the intention of the order may be to provide broad access to healthcare, the end result may fall short of current expectations. "Obamacare has proven itself to be a fatally flawed law, and the House will continue to work with Trump administration to provide the American people a better system". The association health plans could attract young, healthy people and leave a sicker, more expensive patient pool in the individual insurance markets created under Obamacare, driving up premiums.
Since his presidential campaign and during nearly nine months in office, Mr Trump has persistently called for getting rid of the 2010 Obama law.
"This is going to be something that millions and millions of people will be signing up for", the president said, "and they're going to be very happy".
Not only that, but this decision plainly puts the religious convictions of an employer above a woman's right to affordable contraception.
The administration said it would stop reimbursing insurers for discounts on co-payments and deductibles that they are required by law to offer to low-income consumers. With people's lives at stake, the health care question is a microcosm for the larger battle between unregulated capitalism and state intervention. "Congress has not appropriated money for CSRs, and we will discontinue these payments immediately".
Larry Levitt, Kaiser Family Foundation's senior vice president, told the Washington Post that Trump's order to expand health plan options outside of the ACA could do serious damage. "It was written in a way that, in my view, moves too much policymaking authority from the legislative to the executive branch".
Lamar Alexander, the chairman of the chamber's health committee, have called for a short term legislative solution to the issue in order to eliminate uncertainty that has been rattling health insurers for months. The order is the first official step in overhauling major federal regulations while encouraging cheaper, loosely regulated health insurance plans. "This will be great health care". Trumpcare collapsed because Americans overwhelmingly recognized the cruelty and higher costs it meant for them and their loved ones.
"This summer, the courts granted our intervention to defend these vital subsidies and the quality, affordable health care they ensure for millions of families across the country". The CBO also found that ending the payments would add $194 billion dollars to the federal deficit by 2026.
Congressional Republicans have argued that the Obama administration should have sought congressional approval for the payments in a spending bill.
While insurers and states have already locked down contracts on next year's exchanges, there could now be further fallout.
Obamacare enrollees eligible to receive premium subsidies, which are not affected by Trump's move, will continue to get discounted rates. But they could have the same sort of impact if they become widespread.
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