Trumpcare: Under Trumpcare the individual mandate would be abolished which will remove one incentive people would normally have for signing up.
Obamacare: All eligible citizens are required to have health insurance under the individual mandate which in return makes health coverage affordable across the nation.
Trumpcare: Under Trump’s plan, he is calling for “price transparency” but the details have not yet been released.
Obamacare: Available to all consumers are pricing and health coverage information in detail on the marketplaces. Great strides have been made by the ACA with regards to price transparency.
Trumpcare: While Trump is in favor of the pre-existing condition requirements under the ACA, under his plan coverage for pre-existing conditions may become more expensive.
Obamacare: Under the ACA; people cannot be denied coverage for “pre-existing conditions” or be charged higher health insurance rates.
Trumpcare: To help people buy insurance, plans could include federal subsidies, however, the subsidies would be based on peoples age as opposed to their income.
Obamacare: People earning up to 4 times that of the federal poverty line can acquire cost assistance for buying insurance on the marketplace. Of all the people who sign up; 85% qualify.
Trumpcare: Block granting funding has been proposed for Medicaid, this would mean that states would receive a lump sum of their federal money to use for funding programs as they see fit.
Obamacare: Medicaid funding is currently an open-ended matching system that the federal government will guarantee at least $1.00 for each $1.00 spent by that state.
Trumpcare: People might be eligible to deduct their full cost of health insurance premiums each year from there federal tax returns un Trumpcare.
Obamacare: Currently medical expense deductions allowed are only those costs that are in excess of 10% of a household adjusted gross income.
Trumpcare: The idea of prescription drugs being purchase from foreign countries has been discussed in the belief it will lower drug costs.
Obamacare: Currently no provisions have been made in the ACA for using overseas drug importation although there has been bipartisan support for this in the past.
Trumpcare: Under Trumpcare Health Savings Accounts would be boosted. These are tax-advantaged medical savings accounts.
Obamacare: There are options for individuals under Obamacare to use HAS’s though most people don’t because a high deductible health plan is required as well as significant funding.
Trumpcare: To spur competition in the hopes of driving costs down, Trump would like to remove the barriers allowing insurance companies to sell across state lines.
Obamacare: There are different needs for states insureds and the current lows included complex regulatory and licensing issues which keep insurers state bound.
Speak to a licensed agent today