Donald Trump Looks To End Obamacare Subsidies to Insurance Companies
President Trump has always said that Obamacare would fail on its own, even if Congress couldn’t pull their collective heads out of their asses long enough to Repeal it.
And that death will be greatly accelerated if the government stops subsidizing the losses!
Absolutely crazy, not only does Obamacare hurt the American taxpayers directly by paying SIGNIFICANTLY more in premiums, it turns out we are also footing the bill on the backend as taxpayers by giving subsidies to insurance companies.
Wait a second, hang on, I have to see if I have this correct. You mean the insurance companies who are getting richer and richer every year? The insurance companies who own the biggest buildings in every city across America? You can’t be talking about THOSE insurance companies, can you?
So we, the taxpayers, are paying subsidies to rich insurance companies while they milk record profits?
President Trump, stop the madness immediately! Cut off the subsidies! Let these insurance companies compete on their own in the free market! This is madness!
To his credit, President Trump sent out this Tweet earlier this morning:
If ObamaCare is hurting people, & it is, why shouldn't it hurt the insurance companies & why should Congress not be paying what public pays?
— Donald J. Trump (@realDonaldTrump) July 31, 2017
Good, now make it happen!
If you agree, please LIKE + SHARE this article everywhere! Stop the madness!
Here are even more details, from Yahoo/Reuters:
U.S. President Donald Trump on Monday took aim at the nation’s health insurers in an escalating threat to cut the healthcare subsidy payments that make Obamacare plans affordable, one day after urging Republican senators to continue working to undo his Democratic predecessor’s healthcare law.
“If ObamaCare is hurting people, & it is, why shouldn’t it hurt the insurance companies & why should Congress not be paying what public pays?” Trump, a Republican, wrote on Twitter.
Trump, frustrated that he and Republicans have not been able to follow through on their campaign promises to repeal and replace Obamacare, has repeatedly threatened to let it implode. So far, the administration has continued to make the monthly subsidy payments, and withholding them is just one way they could make good on Trump’s threat that could weaken the law.
The president’s latest comments echoed his weekend tweets targeting the federal government’s cost-sharing reduction subsidies to insurers that lower the price of health coverage for the poor under the Affordable Care Act, known as Obamacare.
Kellyanne Conway, a senior counselor to Trump, told “Fox News Sunday” Trump would decide this week whether to end the cost sharing reduction (CSR) payments.
Insurers have asked the government to commit to making the $8 billion in payments for 2018. Trump could cut off the monthly payments for this year’s plans as soon as September.
“Beyond that is a sea of uncertainty,” analysts for Capital Alpha Partners wrote in a research note on Monday.
If the subsidies end, insurers have said they will raise premium rates by another 20 percent in 2018 to make up for losing them. They face an Aug. 16 deadline to submit 2018 rates for Obamacare plans.