- Aug 6, 2012
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Huge hit to Obamacare here, Trump doing the right thing. If these companies can't price themselves in the market and survive without government assistance, this should not be a burden on everyone.
Trump to halt ObamaCare subsidies: Report
President Donald Trump plans to halt payments to insurers under the Affordable Care Act, the 2010 health care law also known as ObamaCare.
It’s the latest effort in the president’s bid to ultimately “repeal and replace” what’s considered the signature legislation of his White House predecessor.
Word of Trump’s latest plan came from two people familiar with the decision, who spoke to the Associated Press. They requested anonymity because they were not authorized to speak publicly.
The White House said in a statement that the Department of Health and Human Services has determined there is no appropriation for cost-sharing reduction payments to insurers under the Obamacare law.
Trump's decision was expected to rattle already-unsteady insurance marketplaces. The president has previously threatened to end the payments, which help reduce health insurance copays and deductibles for people with modest incomes, but remain under a legal cloud.
Pushback expected
The president's action will likely to trigger a lawsuit from state attorneys general, who contend the subsidies to insurers are fully authorized by federal law, and the president's position is reckless. Xavier Becerra, California’s attorney general, called the decision “sabotage,” and promised a lawsuit.
After the president’s intentions were disclosed, leading Democrats in Congress were quick to criticize the plan.
In a statement, Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Nancy Pelosi, D-Calif., predicted that Trump’s expected action would increase Americans’ health premiums by 20 percent or more.
"If these reports are true,” the Democrats said in the joint statement, referring to the president’s plans, “the president is walking away from the good-faith, bipartisan Alexander-Murray negotiations and risking the health care of millions of Americans.”
The Democrats were referring to bipartisan talks being led by Sen. Lamar Alexander, R-Tenn., and Sen. Patty Murray, D-Wash., to seek a bipartisan agreement for funding ObamaCare subsidies and stabilizing health insurance markets.
Order to lower premiums
Earlier Thursday, Trump predicted that “millions and millions of people” would benefit from an executive order he signed Thursday to make lower-premium health insurance plans more widely available.
But the changes Trump hopes to bring about could take months or even longer. That's according to administration officials who outlined the order for reporters. The proposals may not be finalized in time to affect coverage for 2019, let alone next year.
Trump to halt ObamaCare subsidies: Report
President Donald Trump plans to halt payments to insurers under the Affordable Care Act, the 2010 health care law also known as ObamaCare.
It’s the latest effort in the president’s bid to ultimately “repeal and replace” what’s considered the signature legislation of his White House predecessor.
Word of Trump’s latest plan came from two people familiar with the decision, who spoke to the Associated Press. They requested anonymity because they were not authorized to speak publicly.
The White House said in a statement that the Department of Health and Human Services has determined there is no appropriation for cost-sharing reduction payments to insurers under the Obamacare law.
Trump's decision was expected to rattle already-unsteady insurance marketplaces. The president has previously threatened to end the payments, which help reduce health insurance copays and deductibles for people with modest incomes, but remain under a legal cloud.
Pushback expected
The president's action will likely to trigger a lawsuit from state attorneys general, who contend the subsidies to insurers are fully authorized by federal law, and the president's position is reckless. Xavier Becerra, California’s attorney general, called the decision “sabotage,” and promised a lawsuit.
After the president’s intentions were disclosed, leading Democrats in Congress were quick to criticize the plan.
In a statement, Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Nancy Pelosi, D-Calif., predicted that Trump’s expected action would increase Americans’ health premiums by 20 percent or more.
"If these reports are true,” the Democrats said in the joint statement, referring to the president’s plans, “the president is walking away from the good-faith, bipartisan Alexander-Murray negotiations and risking the health care of millions of Americans.”
The Democrats were referring to bipartisan talks being led by Sen. Lamar Alexander, R-Tenn., and Sen. Patty Murray, D-Wash., to seek a bipartisan agreement for funding ObamaCare subsidies and stabilizing health insurance markets.
Order to lower premiums
Earlier Thursday, Trump predicted that “millions and millions of people” would benefit from an executive order he signed Thursday to make lower-premium health insurance plans more widely available.
But the changes Trump hopes to bring about could take months or even longer. That's according to administration officials who outlined the order for reporters. The proposals may not be finalized in time to affect coverage for 2019, let alone next year.