Trumps On The Verge Of Exploding The Health Insurance Market
Trump’s On The Verge Of Exploding The Health Insurance Market
The government owes money to insurance companies. Trump reportedly doesn’t want to pay.
By Jeffrey Young
President Donald Trump has had his finger on the detonator of the bomb to blow up Obamacare for months. Now he may be about to press it.
Trump told advisers earlier this week that he wants to cut off billions of dollars in payments to health insurance companies that serve the poorest enrollees in the Affordable Care Act exchanges, Politico reported Friday.
If Trump follows through on this threat, he could wreak havoc on the health insurance system. Insurance companies are likely to hike premiums or to stop selling to people who buy coverage via the exchanges, like HealthCare.gov and Covered California, or directly (rather than obtaining coverage through their employers or government programs like Medicare and Medicaid).
The results would be higher prices and fewer, if any, choices for consumers, and the effects could be felt quickly because many states would allow insurers to drop their customers right away in the absence of these payments. In short, this part of the health insurance market could fall apart under Trump’s watch if he doesn’t pay the money the federal government owes.
http://www.huffingtonpost.com/entry/trump-blow-up-health-insurance-market_us_591f541be4b034684b0c6212?ncid=inblnkushpmg00000009
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