Trump Issues Major Blow To Obamacare, Freezes Billions of Dollars In Payments To Insurers
By Ken Martin, Fox Business // July 9, 2018
around 20 million people have Obamacare
ABOVE VIDEO: Dr. Dave Weldon, president of the Alliance of Health Care Sharing Ministries, discusses why the health care sharing ministry group, known as Samaritan Ministries, could be a good alternative for people who can’t find affordable healthcare. (Fox Business Video)
(FOX BUSINESS) – Once again, the Trump administration has taken an axe to the Affordable Care Act, temporarily suspending a program that was set to pay out $10.4 billion to insurers for covering high-risk individuals last year.
Health insurers say it is a move that could drive up premium costs and create marketplace uncertainty.
Insurance stocks may be a focus in Monday morning’s trading.
The Affordable Care Act’s (ACA) “risk adjustment” program is intended to incentivize health insurers to cover individuals with pre-existing and chronic conditions by collecting money from insurers with relatively healthy enrollees to offset the costs of other insurers with sicker ones, according to Reuters.
President Donald Trump’s administration has used its regulatory powers to undermine the ACA on multiple fronts after the Republican-controlled Congress last year failed to repeal and replace the law propelled by Democratic President Barack Obama.
Many Trump followers often cheer cuts to Obamacare, not knowing that the Affordable Care Act and Obamacare are one in the same.
About 20 million Americans have received health insurance coverage through the program.
It could encourage more insurers to bow out of the Affordable Care Act.
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