Even with Republicans being unable to repeal the ACA “Affordable Care Act.” New reports predict increased numbers for the uninsured under the Trump administrations. CBO projects that between the years 2017 & 2018, an increase of uninsured people will be rise by as much as 2 million.
President Donald Trump’s strategy as he said is to let the Obamacare’s health law implode after failing to repeal Obamacare. A report was released by the Congressional Budget Office which predicts that the Trump administration’s policies for Obamacare would help this happen due to rising premiums and a decrease in enrollment for the individual health insurance markets over the next year.
This report names several of the policies being pushed by the White House when they explain why the average Obamacare premiums for 2018 will increase a substantial amount.
Mentioned by the CBO report to be a substantial driver for higher costs for those insured is that Trump repeatedly has said he may withhold cost-sharing subsidies the government would pay to insurance companies which is causing uncertainty. A failure to promise payment for these subsidies as well as the reduction in advertising used to inform people about markets and the employees who will sign-up enrollees would only push down enrollment numbers.
A reduction of 4 million for subsidized coverage obtained through the marketplace for 2026 projections as well as the number of uninsured people is to grow; 3 million larger from what was reported in the CBO’s baseline projections for March 2016.
Trump ramping up the threats to end subsidies after the Republican Senate had failed pass the measure for repealing the ACA “Affordable Care Act.” In July Trump tweeted that if approval for a new HealthCare Bill is not done quickly, both Insurance Companies and Congress bailouts will end very soon!
Subsidies are relied on by the insurers enabling them to lower deductibles & co-pays for single enrollees earning less than $30,000 annually and families of 4 that make around $61,000 annually. This is separate premium subsidies paid by the government to lower premiums.
This uncertainty in the near term will mean that more Americans who are under the age of 65 will no longer have insurance.
Mostly due to increased premiums for the nongroup marketplace is expected between 2017 and 2018 with an increase of 15%. According to agencies projections; the amount uninsured people will rise by 2 million.
Going beyond 2018 with a continued increase in the amount of uninsured has several factors to help explain this. There is an expectation that a decrease in the number of employers offering insurance for their employees and an increase in Medicaid eligibility as well as a lower enrollment rate overall.
With premiums expected to increase; the good news is in access to insurers.
Over the past few months, there have been dozens of counties who are at risk of having no insurers who are participating in 2018. Predominantly in Nevada, Ohio and Virginia. Anthem announced it will sell insurance plans in Virginia; Anthem insurance Virginia, Obamacare Virginia. Nevada Obamacare, and Ohio Obamacare may still be at risk but with more certainty about the law; in 2019, average Obamacare premiums will be expected to be lower than 2018 premiums.