When does the Trump administration start issuing subsidies for ObamaCare coverage?
Trump administration officials are poised to roll out subsidies to buy insurance across the country in what will be the first major effort by the administration to try to stabilize the Affordable Care Act since it went into effect more than a year ago.
The effort, expected to be formally announced Wednesday, is expected to come under intense scrutiny from lawmakers and experts on the issue.
Insurance experts and congressional aides familiar with the matter said the administration is expected in the coming weeks to begin issuing new federal subsidies to help millions of Americans purchase coverage through state-run insurance exchanges.
That would allow more Americans to afford coverage, which could help stabilize the law’s insurance markets.
“This is one of the most important steps that will happen to insure Americans and make sure they can keep their plans,” said Dan Schnur, a senior vice president at the Kaiser Family Foundation, a research and advocacy group.
“It’s going to have a lot of ramifications.”
A lot of people think this is a good thing.
It is not a good idea.
We’ve seen the damage done by Obamacare and the devastation that it caused.
It was not a great idea.
President Donald Trump signs an executive order to provide tax credits for health insurance coverage, at the White House in Washington, on March 14, 2021.
Healthcare experts and health care industry groups are skeptical that the White, House and Department of Health and Human Services will succeed in rolling out subsidies.
“If you’re going to go ahead and give tax credits, you should be giving them to people who actually need it,” said Robert Laszewski, chief of the Department of Political Science at Indiana University.
“This is not an effort to make up for the mistakes of the previous administration, which was not in a position to take the insurance companies seriously enough.”
Insurers say the subsidies will help stabilize markets and keep premiums down for the next several years.
The administration announced the first subsidy for health coverage on Monday, but it is unclear when exactly the program will be rolled out.
Schnur said he is optimistic that the administration will make the first payment.
“I think it’s going in the right direction,” Schnur said.
“The administration is in a much better position than they were last year, which is why I’m optimistic.”
If the WhiteHouse decides to start issuing new subsidies in the next couple of weeks, the TrumpCare subsidies would start on the first day of the next year.
The first subsidy would cost $2,500 per family for a 30-year-old and $6,500 for a 50-year old, according to the Department’s website.
The government has also set aside $5 billion to provide subsidies to purchase health insurance through state exchanges and to subsidize coverage through government-run plans.
Republicans have argued that the program, enacted under the Obama administration, is a boon to Americans who have lost their jobs and have struggled to afford health insurance.
House Republicans are considering several provisions to stabilize and expand the Affordable Health Care Act, including funding to pay for state exchanges, which will be available to people with incomes up to 400% of the federal poverty level, a $16,500 income level.
A White House official said the first federal payments would be made “in the first quarter of 2019.”
The first subsidies for health care coverage will be made possible through the Health Insurance Marketplace Act, legislation that passed the House last month.
Senate Republicans will be able to block the subsidies if they can’t pass a replacement by the end of the year.
White House officials have also signaled they will roll out tax credits that would help individuals buy coverage across state lines.
The administration’s health care effort is expected as part of a broader effort to overhaul the tax code.
Trump has signaled he will use the reconciliation process to pass the legislation.
Read more at Fox News.