CBO: Trump’s Plan To End Obamacare Subsidy Payments Would Make Premiums Soar
Trump’s plan to sabotage Obamacare would make health insurance premiums to jump 20 percent.
If Donald Trump follows through on his threat to withhold subsidy Obamacare subsidy payments, insurance companies would raise health insurance premiums by about 20 percent, according to the Congressional Budget Office (CBO).
House Democrats asked the CBO to analyze the impact of Donald Trump ending the subsidy payments.
CBO noted that some insurance companies would withdraw altogether and about 5 percent of people would live in areas without insurance options in 2018.
The cost-sharing subsidy payments are paid to insurers, compensating them for discounting out-of-pocket costs for certain enrollees.
Trump and Republicans have characterized as a give away to the insurance company, however, they are in fact subsidies for middle and low-income Americans to afford health insurance.
CBO: Terminating Obamacare cost-sharing reduction payments would raise premiums by 20%. https://t.co/7emMmQcE6S
— Kyle Griffin (@kylegriffin1) August 15, 2017
CBO also confirmed that if Trump did cut the subsidy payments it would increase the federal deficit by $194 billion through 2026.
Trump last attempt to repeal Obamacare failed in July when three Senate Republicans joined Democrats to vote against the bill.
