Tags: Healthcare Reform | President Donald Trump | Obamacare | healthcare | insurance subsidies

Trump Tweets Praise for End to Obamacare 'Windfall' to Insurers

Trump Tweets Praise for End to Obamacare 'Windfall' to Insurers
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By    |   Saturday, 14 October 2017 09:03 AM

President Donald Trump on Saturday heralded ending the Democrats' "windfall" to insurance companies after he announced Friday a halt to subsidy payments to Obamacare insurers.

"Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!" Trump tweeted.

Trump also boasted about allowing "greatly expanded access and far lower costs" for health insurance in an executive order he signed Thursday, tweeting the move would allow "millions" of people to benefit. The order allows government agencies to design insurance plans that would offer lower premiums outside the requirements of President Barack Obama's Affordable Care Act.

Trump's announcement to end the subsidy payments to insurers is a key component of Obamacare. He has voiced frustration at Republicans in Congress for failing to repeal or replace the nation's healthcare law and has worked to follow through on his campaign promise to reform healthcare by chipping away at Obamacare through the executive branch.

"As far as the subsidies are concerned, I don't want to make the insurance companies rich," Trump told reporters at the White House. "They're making a fortune by getting that kind of money."

On Friday attorneys general from 18 states and the District of Columbia responded to the announcement by suing the Trump administration in federal court to block him from scrapping the subsidies to insurers.

Losing the subsidies will cause low-income Americans to face higher insurance prices through Obamacare online marketplaces as well as higher out-of-pocket medical costs.

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President Donald Trump on Saturday heralded ending the Democrats' "windfall" to insurance companies after he announced Friday a halt to subsidy payments to Obamacare insurers."Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged...
President Donald Trump, Obamacare, healthcare, insurance subsidies
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2017-03-14
Saturday, 14 October 2017 09:03 AM
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