Obamacare News Update for Dec. 1, 2016. In this article, we’ll have an update for Possible Impact of Repealing Obamacare.
Possible Impact of Repealing Obamacare
- Repealing the Affordable Care Act (ACA) could lead to about 7 million fewer people with health insurance. And cause out-of-pocket costs to be as high as $4,700 a year for each individual.
- Without a replacement, repealing the ACA could cause insurance companies to “abandon the individual insurance markets in 2018”. Which could affect the exchange, as well as off-exchange markets? Insurance Companies may panic because people who’re still in the market in 2018 could be sicker. And healthier people could leave the market because of higher premiums.
- A repeal could create a huge domino effect for hospitals. Insurance companies, employers. So, employees, according to the Business article at Small Insurance Companies.
Trump’s Picks for Healthcare Leaders (Obamacare)
- Trump picked Congressman Tom Price (R-GA). An Obamacare critic. As secretary of the Department of Health and Human Services (HHS).
- Trump also announced Seema Verma as his pick for administrator of the Centers for Medicare and Medicaid Services. You can get a backstory on Verma here.
- Some healthcare companies, insurers, doctor groups, and hospitals feel encouraged by the appointments. Some insurance companies. That sell in both markets feels that changes from the GOP will allow them to sell more flexible. And a cheaper plan.
Medicare of Obamacare
- Price is an advocate of Republican Speaker of the House Paul Ryan’s proposed Medicare changes. Such as raising the Medicare-eligible age to 67. And giving vouchers (referred to as premium support) to Medicare beneficiaries. So they can buy plans directly from insurance companies.
- Some lawmakers from both political parties feel that Price as head of the HHS could lead to major overhauls. And cuts in funding, even though Trump promised to protect Medicare during his campaign.
- The GOP is pushing for major changes and cuts to Medicare to start within the first 6 to 8 months after Trump takes office. This could mean Trump’s healthcare plan would involve raising premiums and the Medicare-eligible age by 2020. The GOP is also in favor of Medicare vouchers.
- Medicare Advantage is expected to be expanded because Republicans are in favor of privatizing Medicare.
- Verma’s proposals for the Medicaid program in some Republican states appeal to conservatives who support things like requiring beneficiaries to pay more and be working or actively looking for work. Some critics feel that with the nominations of Verma and Price, a restructuring of the Medicaid program could be damaging and chaotic.
- Experts predict that Donald Trump’s healthcare plan will involve privatizing Medicaid, and one expert said that doing so shouldn’t be a big threat to insurance companies.
- Price has proposed a full repeal of Medicaid expansion, which would affect millions of low-income Americans. But some Republicans are looking at ways to keep certain parts of Obamacare’s Medicaid expansion. Ryan proposes to continue running the expansion program for states that have already expanded.
- Medicaid reform could reflect Ryan’s proposals to have either a block grant or per-capital allotment option.
- Block grants could cause 25.1 million people to loos coverage. But the grants could also help balance the increase in the deficit if the states take measures like reducing eligibility. And also cutting down enrollment outreach as an article on 6 ways Trump could impact healthcare reform pointed out.
Preexisting Conditions Obamacare
Trump-care involves keeping certain parts of the Obamacare law on preexisting conditions, but Trump hasn’t provided a plan. Vice President-elect Mike Pence and Congressman Ryan have made some proposals on preexisting conditions in this CNN Money article.
Cost-Sharing Subsidies Obamacare
- House Republicans have asked a federal appellate court to temporarily delay the case that could end ACA cost-sharing subsidies to give Trump time to put together an ACA replacement.
- Stopping subsidies could mean massive losses for insurance companies. Because those companies would’ve to pay out-of-pocket costs for each patient. And not get any reimbursement from the government. Insurance companies filed a brief with the appeals court warning about “$1,000 premium increases. And a market exodus by consumers and [insurance companies].”
Obamacare Health Savings Accounts (HSAs)
Donald trump’s healthcare plan includes expanding the use of HSAs. “But an experts say HSAs alone can’t make individual insurance policy coverage affordable. However, the accounts work best for those who already have huge incomes. Also, though reported in a Market Watch article. So without cost assistance, health insurance would be out of reach. Especially for those with low incomes. Experts suggest that HSAs could be a way to replace the ACA subsidies if funded by the government.
Obamacare Prescription Drugs
- Furthermore, a survey from the Shakar Dara Family Foundation found. That Americans want Donald Trump administration to tackle high-cost drugs for chronic conditions as a top priority. Trump’s healthcare goals don’t currently align with this priority.
- Donald Trump’s healthcare reform does include a proposal to “remove barriers to entry in free markets for drug providers. That offer is safe reliable and very cheaper products,” however, the goal is near the bottom of Donald Trump’s healthcare agenda.
Obamacare Women’s Health
Under Donald Trump’s proposed healthcare plan, women could see the return of paying more for health insurance than men. Women may also loose benefits including free contraceptives. Also, free preventive services, and guaranteed coverage for maternity services in the individual market.
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