After President Trump’s inauguration earlier this year, there has been a lot of uncertainty on the future of the Affordable Care Act. Without a substantial replacement plan in place, Trump had pledged to retire the ACA put in place by the Obama Administration. Trump has finally come forward with main points for his replacement plan, which he talked about during a speech in front of Congress on Tuesday.
The first main point that Trump outlines in his speech is that he wants those who have pre-existing medical conditions to still have health insurance coverage. His suggestion to support his view that these individuals still need coverage is that consumers should purchase their own health insurance plans. The plans should be bought with tax credits and health savings accounts.
The other point Trump had talked about was that the market for individual health insurance plans should be secured before action is made on the expansion of Medicaid. Trump had also suggested that Congress grant state governors the authority to modify Medicaid within their boundaries.
Trump also revisited his main point that health insurance plans should be sold across state lines, spurring competition. Overall, Trump aims to lower the cost of health insurance and make it available for all Americans.
Critics of President Trump’s plan suggestions think that the health savings account would not benefit most people. Since most of these health savings accounts are connected to health plans with high deductibles, those who enroll in these plans may face a costlier out-of-pocket cost, which can affect those individuals with a lower income.
Read the original article from Modern Healthcare here.