One of President Trump’s main campaign promises was to repeal Obamacare, and the American people witnessed many attempts by the Republican Party to repeal and replace Obamacare. So far, they have all failed.
President Trump has said that ‘Obamacare is in death spiral’ and many other criticisms, but they haven’t been true. Millions who previously did not have health insurance now are insured, and premiums are going up at a lower rate than they were prior to the Affordable Care Act.
With Trump’s comments being false, he has now decided that he will destroy Obamacare and make it fail, himself.
President Trump has been paying the cost-sharing subsidies to the insurance companies in the exchange monthly, leaving the insurance companies very fearful of Trump simply pulling out of subsidizing the insurance companies for keeping low-income enrollees’ costs low.
The result of not making a long-term commitment, and instead paying these subsidies monthly, a few insurance companies pulled out of the exchange.
Now, President Trump has decided to completely halt the subsidies to the insurance companies. The result will be that some insurance companies pull out of the exchange, and the ones that remain in the exchange will be charging middle-class enrollees more for their health insurance to cover the extra payments the insurance company has to make to cover the low-income enrollees.
The Affordable Care Act mandates that low-income enrollees have a lower premium cost that they can afford, and without these subsidies, the insurance companies will have to pay for it themselves.
Obamacare was not failing, but President Trump is going to make it fail, by effectively destabilizing it and destroying it.