8 Big Changes Under Tom Prices Obamacare Replacement Plan (AKA "You're on your own, good luck") [View all]

[Miles Archer]

8 Big Changes Under Tom Price’s Obamacare Replacement Plan

http://www.msn.com/en-us/money/healthcare/8-big-changes-under-tom-price%C3%A2%E2%82%AC-tm-s-obamacare-replacement-plan/ar-AAkXhse

-- Obamacare would be scrapped, including the government-run insurance markets in every state, the mandates on individuals and businesses and federal tax credits to subsidize the insurance of lower income Americans. Price’s plan instead would offer fixed tax credits – pegged to a person’s age rather than their income -- so that they can buy their insurance policies in the private market.

-- Those tax credits would be fairly modest, ranging from $1,200 a year for people 18 to 35 years of age to $3,000 for those 51 and older. In many regions of the country, that would hardly begin to cover the premiums and out-of-pocket costs for a relatively comprehensive health insurance plan.

-- In one of the biggest blows to poor and low-income Americans, Price would repeal the expanded Medicaid coverage in 32 states and the District of Columbia for able-bodied single people and leave those current beneficiaries to fend for themselves on the open market, using other tax credits and benefits.

-- Price’s approach matches that of GOP President-elect Donald Trump in one notable way – by allowing health insurers licensed to sell policies in one state to offer them to residents of other states. This approach would allow consumers to shop around for health insurance across state lines just as they might for any other insurance product.