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Thursday, Trump issued an Executive Order directing federal agencies to draft new regulations allowing employers to form insurance offerings across state lines. Many contend opening up the marketplace will allow more employer flexibility, greater choice, and as a result, lower premiums.
Before the ink had dried, a leaked report indicated Trump’s plans to throw another blow at Obamacare, this time, by way of subsidy.
Congress - Funds - Subsidies - Health - Insurance
Congress has yet to appropriate funds for subsidies given to health insurance providers that offer Obamacare plans. Failure to subsidize these plans spells the end of Obamacare as we know it.
Subsidies - Year - Installments - Congress - Funding
The subsidies, which are worth an estimated $7 billion this year and are paid out in monthly installments, may stop almost immediately since Congress hasn’t appropriated funding for the program.
The decision, which leaked out only hours after Trump signed an executive order calling for new regulations to encourage cheap, loosely regulated health plans – delivered a double whammy to Obamacare after months of failed GOP efforts to repeal the law. With open enrollment for the 2018 plan year set to launch in two weeks, the moves seem aimed at dismantling the law through executive actions.
Press - Secretary - Sarah - Huckabee - Sanders
Press Secretary Sarah Huckabee Sanders confirmed the decision in a statement emailed to reporters at 10:47 p.m. Thursday.
“Based on guidance from the Department of Justice, the Department of Health and Human Services has concluded that there is no appropriation for cost-sharing reduction payments to insurance companies under Obamacare,” she said. “In light of this analysis, the Government cannot lawfully make the cost-sharing reduction payments. …The bailout of insurance companies through these unlawful payments is yet another example of how the previous administration abused taxpayer dollars and skirted the law to prop up a broken system.”
Americans - Subsidy - Health - Insurance - Obamacare
About 7 million Americans receive a subsidy for their health insurance purchased through an Obamacare exchange.
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