“Our wonderful new Healthcare Bill is now out for review and negotiation. ObamaCare is a complete and total disaster – is imploding fast!” tweeted President Donald Trump on Tuesday after his party unveiled its new plan to replace the Affordable Care Act.
Trump stands in full support of the bill, but it isn’t everything he wanted.
According to the new legislation,
• ObamaCare Medicaid expansion will continue only through 2020
• Children will be able to stay on their parents’ plans until age 26
• There will be no penalty for failing to obtain insurance
• Nearly all taxes created by ACA will disappear (starting in 2018)
• Adjusted premiums will have older, sicker people paying more and healthy people paying less
• Insurance providers must offer plans to consumers with preexisting medical conditions
• Insurers will be allowed to charge higher premiums if enrollees had gaps in previous coverage
The GOP-backed measure dramatically rearranges Medicaid by capping federal payments and establishes a new tax credit-based system to help people purchase insurance.
The tax credit, which ranges from $2,000-$4,000 per person per year, increases with age and will be available starting in 2020 to those who are unable to purchase insurance through their employer. This system provides more assistance for young people, many of whom refused to purchase insurance under the ACA. Tax credits will be unavailable to anyone making $75,000 or more.
In response to Fox News radio host Laura Ingraham’s concerns that the bill does not allow competition across state lines, Trump assured us that “getting rid of state lines, which will promote competition, will be in phase 2 & 3 of healthcare rollout.”
Ingraham also expressed concerns about the ever-increasing cost of drugs, to which Trump responded that his “new system” would encourage competition in the drug industry and send prices “way down.”
“Republican leaders are using fast-track budget rules to avoid a Democratic filibuster of their plans, but they cannot afford to lose more than 21 of their party’s votes in the House or more than two in the Senate, where they hold just a 52-48 majority,” reports The Washington Times.
The bill already faces opposition from conservatives who believe it is too generous and moderates who don’t think it’s generous enough. Health Sec. Tom Price calls it “a necessary and important first step.”
House Republicans plan to push the bill through as quickly as possible, with two committees planning to vote on Wednesday. A full House vote is expected to occur within the next few weeks.
House Speaker Paul says the new bill will “give every American access to quality, affordable health insurance” and seems confident it will pass.
“Working together, this unified Republican government will deliver relief and peace of mind to the millions of Americans suffering under ObamaCare,” he continued. “This will proceed through a transparent process of regular order in full view of the public.”