The repeal of Obamacare has been promise made by the new President Trump numerous times over the course of his campaign. Obamacare is a far from perfect system that Trump feels is a detriment to the insurance of healthcare for citizens. Healthcare has been a long standing issue that numerous presidents have grappled with over the decades. Here, we shall see what is the Donald Trump take on healthcare and how it will affect you…if he can get it to pass.
What is Trump’s Latest Healthcare Reform Bill?
With his new healthcare plan, labeled Trumpcare, the billionaire turned president offers a very conservative approach health insurance. This includes the complete abolition of the Affordable Care Act and gradual handing over of healthcare back to the private sector. This leaves much uneasiness among liberals and even some republicans who represent in states where the majority support and/or rely on Obamacare. The fact is, there is much debate and discussion to be done on both sides of the table before congress can bring these plans into fruition. Far from the quick and easy overhaul Trump probably had in mind when he took office.
Even with the bill winning over the Freedom Caucus, there is still much the the President must define concerning his healthcare plan. The objective and vision of the Bill are presented with great charisma during his rallies and public speeches, but we have yet to hear the specifics of how he intends to bring them about. Here is what we know about the latest Trump Healthcare Reform Bill so far.
The Trump Plan
• The Bill shall see the removal of Individual Mandate.
• It shall call for “Price Transparency”.
• The coverage for people with pre-existing conditions shall be retained but there is a chance that it shall be more expensive.
• Federal subsidies shall be included to help individuals buy insurance but the subsidies shall take into account your age, not your income.
• Block-granting for Medicaid. This will place federal funds at the hands of the states to use as they see fit concerning healthcare.
• Prescriptions may be purchased from foreign countries as to lower their cost.
• Healthcare Savings Accounts shall be bolstered under Trumpcare.
• The allowing of insurance companies to do business across state lines.
The Total Cost
The complete repeal of Obamacare will cause 21 million people to lose coverage. Some estimates show that the application of the Bill will cost anywhere from 300-500 billion dollars over 10 years. This according to the Committee for a Responsible Federal Budget.
Despite all this, the Bill is geared towards the lowering of costs and increasing coverage by promoting competition and tax-cuts. The abolition of the entire Affordable Care Act will likely result in $1.1 trillion of federal funds saved. Trump also claims that intense negotiations with Medicare drugs might be able to save as much as $300 billion yearly.
Worth it or Not?
The answer to this question varies from where you’re looking. Republicans see it as a return to form and the solution the long standing problem of healthcare in the nation (though some are weary to support it outright as it might displease their constituency). Democrats may see it as a step backward, a retreat from the universal healthcare system that many 1st world nations use today. It shall be interesting to see how this will all play out in the next few months. We can do nothing but speak out, let our desires be heard, and hope that perhaps this time, the choice that are made are the right ones.