The American people did not have to wait long for the other hammer to drop. In a statement issued late Thursday night, the White House announced that it will end subsidies to insurers selling on the Obamacare marketplaces. These so-called cost-sharing reduction subsidies help cover out-of-pocket costs for low-income customers and help insurers keep premiums down for all.
After repeated failures by congressional Republicans to repeal the Affordable Care Act, the Trump administration has been moving quickly to dismantle President Barack Obama’s signature legislative achievement through executive actions.
Earlier on Thursday, the President signed an executive order designed to weaken Obamacare insurance regulations by creating a parallel insurance market of low-cost plans that cover very little but appeal to the healthiest and youngest Americans.
“Executive or judicial action could very well be challenged in lawsuits that would take some time to resolve—potentially extending the number of years insurers might not participate in the marketplaces,” the Congressional Budget Office said.
Having failed to repeal the Affordable Care Act through fair and democratic means, the GOP and the Trump administration have resorted to cruel and sustained attacks on the 2010 health care law that gave tens of millions of Americans health insurance for the first time.
While the loss of subsidies is sure to raise premiums as much as 20% for some buying individual plans through the marketplaces, Obamacare tax credits, which cannot be altered by executive order, still will help offset inevitable premium hikes brought about by the loss of $7 billion in subsidies.
The GOP and the Trump administration have been heartless in their maniacal campaign to nullify all that President Obama accomplished during his two terms in office, particularly his greatest achievement.
By withholding such necessary and significant federal funding, the Trump administration has dealt a serious blow to Obamacare and once again made clear that it cares more about showering massive subsidies, in the form of tax breaks, on a very few of the wealthiest Americans than it does about protecting the health and wellbeing of tens of millions of poor, elderly, disabled and sick Americans who rely upon the lifesaving medical care that the ACA provides.
– Danielle Bizzarro