Former Health Connector Head On Trump's Ending Of ACA Subsidies

Former Health Connector Head On Trump's Ending Of ACA Subsidies

Lamar Alexander, R-Tenn., and Patty Murray, D-Wash., to create legislation that would continue the cost-sharing subsidies and give states more flexibility to develop and sell less generous health care plans than those now offered on the exchanges.

Cutting off payments to insurers for the out-of-pocket discounts they provide to moderate-income policyholders does not mean those people will no longer get help. The number underscores the political risk for Trump and his party, which could end up owning the blame for increased costs and chaos in the insurance marketplace.

The National Association of Insurance Commissioners has estimated the loss of the subsidies would result in a 12 percent to 15 percent increase in premiums, while the nonpartisan Congressional Budget Office has put the figure at 20 percent.

In those states, insurers will have to refile their 2018 rates and might not be able to do so before open enrollment for the ACA exchange begins November 1.

Those who get health insurance through group plans such as through their employer may see benefits from other rule changes. But to make up for the lost federal funding, health insurers will have to raise premiums substantially, potentially putting coverage out of reach for many consumers. Over the next decade, the CBO reported, the federal government would save $118 billion by canceling the cost-sharing subsidies - but spend an additional $365 billion for the increase in premium subsidies.

But ACA consumers who earn too much to qualify for any subsidies will see significant price increases on the exchange next year. That's because most people who buy silver plans also get a subsidy from the federal government to help pay their premium, and those subsidies rise along with the cost of a silver plan. Many states, however, allowed insurers to spread the expected increase across all levels of plans.

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The executive order would allow insurance companies to sell cheap, junk insurance, luring healthy customers out of comprehensive plans protected by ACA safeguards and driving up health insurance costs for everybody who isn't in flawless health.

"This is the equivalent of health-care arson".

"We encourage the administration and Congress to ensure that individuals have affordable, comprehensive health care coverage options and to achieve this goal without destabilizing the insurance markets for patients".

He says many insurance companies have already set their rates for next year expecting the cuts. The Fort Pierce, Florida, barber benefits from the deductible and co-pay discounts, as do more than 1 million other Floridians, the highest number of cost-sharing beneficiaries of any state.

Many Republicans praised Trump's action, saying Obama's law has led to a spike in insurance costs for those who have to buy policies on the individual market. "We will discontinue these payments immediately", said acting HHS Secretary Eric Hargan and Medicare administrator Seema Verma.

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