HEALTHCARE/OBAMACARE(ACA)/TRUMP AS PRESIDENT: “U.S. President Donald Trump will hurt low-income Americans by doing away with Obamacare subsidies and make it harder for him to engage in bipartisan talks with Democrats as Congress edges toward a possible government shutdown, lawmakers said on Sunday.
The White House has announced that the Republican administration will stop paying billions of dollars to insurers to help low-income consumers meet out-of-pocket medical expenses, as part of the president’s step-by-step effort to dismantle the Affordable Care Act, Democratic former President Barack Obama’s signature healthcare law.
The expected loss of cost-sharing subsidies, estimated to be worth $7 billion this year and $10 billion in 2018, has prompted worries about insurance market chaos and undermined the prices of insurer and hospital company shares.
By antagonizing Democrats who support Obamacare, Trump’s actions could also lead to political turmoil over spending in December, when Republicans hope to put the final touches on a sweeping tax reform bill.
Republican Senator Susan Collins, who has opposed Trump-backed legislation to repeal and replace Obamacare, warned that the president’s move will also affect the ability of vulnerable low-income people to access healthcare and afford out-of-pocket medical costs.”
-David Morgan, “Trump Obamacare move seen harming Americans, bipartisan prospects,” Reuters, Oct. 15, 2017 03:09pm