Republicans in the House of Representatives announced their alternative to Barack Obama's signature Affordable Care Act a.k.a. Obamacare today, while promising that it would repeal much of the provisions of the Obamacare healthcare law, including its expansion of the Medicaid program. President Trump and fellow Republicans had repeatedly promised to repeal and replace the troubled healthcare law left behind by Obama. It is not clear whether the new bill has enough support to pass the Republican-led Congress after going to two House committees for review.
While it would eliminate income-based subsidies for purchasing insurance, the bill would instead offer age-based refundable tax credits. Those would be capped at upper-income levels. It would repeal most Obamacare-levied taxes in January 2018 but immediately repeal the penalty for the individual and employer mandates to buy insurance. It would not cap the existing tax exemption for employer-sponsored health insurance, although some lawmakers had favored that. Also, it eliminates funding for abortion.
he White House praised the plan on Monday, but stopped short of fully endorsing the proposal.
White House press secretary Sean Spicer said the legislation’s release “marks an important step toward restoring healthcare choices and affordability back to the American people.” He stopped short of endorsing the bill. “President Trump looks forward to working with both chambers of Congress to repeal and replace ObamaCare,” Spicer added.
See the bill here.
1) Dismantles the Obamacare taxes that have hurt job creators, increased premium costs, and limited options for patients and health care providers—including taxes on prescription drugs, over-the-counter medications, health-insurance premiums, and medical devices.
2) Eliminates the individual and employer mandate penalties.
3) Prohibit health insurers from denying coverage or charging more money to patients based on pre-existing conditions.
4) Young adults under the age of 26 will be able to continue under their parents’ health care insurance plan.
5) Enhances and expands Health Savings Accounts (HSAs), “nearly doubling the amount of money people can contribute and broadening how people can use it.”