CBO: If Trump Cuts Payments To Insurance Companies, It Will Cost Taxpayers

Report Higher premiums if Trump halts'Obamacare subsidies

The Trump administration will make Obamacare payments to insurers for August, a White House spokesman said Wednesday.

Insurers have warned that without CSRs, they would likely have to dramatically raise premiums for 2018, well above their current planned increases. The panel will begin hearings on stabilizing the marketplace the first week of September. But Trump didn't drop the appeal. The case has been delayed for months, and it's possible another delay could occur.

The Congressional Budget Office reported this week that premiums for a popular type of individual health care plan under the Patient Protection and Affordable Care Act would rise sharply and that more people would be left without options for coverage if Trump made good on his threat to stop the payments. The group said the proposed increases - an average of 27 percent across all insurers and the entire state - are too high based on cost trends in the state.

The Trump administration is giving insurance companies an extra three weeks to decide whether to offer insurance plans through the Affordable Care Act markets, and how much to charge. This would happen because in order to qualify for the Obamacare markets, insurers would still have to provide low-income enrollees with the same level of care without those costs being offset.

"Obamacare is hurting more people than it is helping, forcing Americans to buy insurance they don't like, don't need, and can not afford", he said in a statement.

It is unclear whether the federal government played a role in providing incentives to insurers to offer plans in bare counties, many of which were at risk because Anthem Inc, one of the largest remaining Obamacare insurers, pared back its offerings in several states, said Cox.

Instead, the president and Congressional Republicans have agreed to allow the payments to continue in the face of warnings from insurers and insurance experts that health plans would have to increase their premiums by 20 percent or more to cover the loss of the reimbursements.

For a Limited Time receive a FREE Compensation Market Analysis Report!

That will come as a sigh of relief to companies for now-but it's an open question whether Trump will continue to threaten the so-called cost-sharing reduction (CSR) subsidies, as he has done on multiple occasions, in future months.

Sen. Lamar Alexander (R-Tenn.) and Sen.

The CBO estimated the federal deficit would increase by $194 billion from 2017 through 2026 if the payments are terminated.

Trump has grown increasingly frustrated as Republicans, who control the White House, Senate and House, have been unable to pass a repeal or replacement of the Affordable Care Act, former Democratic President Barack Obama's signature domestic policy achievement. Trump is playing a ridiculous game of chicken with people's lives and with the health of our entire health care system.

Last year, a federal judge sided with House Republicans, ruling although the payment had been authorized under the law, it had not been appropriated.

Related news:

Hot News

isis-killer-beheading-video-story-top J&K: LeT terrorist Ayub Lelhari killed in encounter with forces
Aug 18, 2017 - 01:12
The gun battle between the terrorists and security forces took place at Kakpora's Banderpora in Pulwama . The police have arrested also driver of the vehicle. "Excellent work boys!", tweeted DGP SP Vaid.

isis-killer-beheading-video-story-top Charlottesville: David Duke Still Matters -- Who Knew?
Aug 18, 2017 - 01:08
In addition to announcing the dissolution of the business councils via tweet , he congratulated Sen. Trump initially blamed "many sides" for the violence and avoided calling out the far-right by name.

isis-killer-beheading-video-story-top Google tests a version of its Search app for data-lacking locales
Aug 18, 2017 - 01:05
Google hasn't made any official announcement yet but this Search Lite appears to be in its testing phase already. Other users who may be knowledgeable about the subject matter may also contribute and share what they know.

isis-killer-beheading-video-story-top Queen sends message of sympathy after fatal Sierra Leone mudslides
Aug 18, 2017 - 01:02
Small country in West Africa and one of the poorest in the world, Sierra Leone has an "urgent need help", he launched. The mudslide occurred early Monday while many Freetown residents were still sleeping, after hours of heavy rains.

isis-killer-beheading-video-story-top Google Home Preview Program For Testing Future Software Opens To Everyone
Aug 17, 2017 - 14:09
Google is rolling out the ability to make hands-free phone calls to the USA and Canada via Google Assistant on Google Home . Now, not only can it make a call for you, but it can tell exactly which member in the household is commanding it to do so.

isis-killer-beheading-video-story-top Zimbabwe's Mugabe arrives South Africa for regional summit
Aug 17, 2017 - 14:05
He later said a doctor had found at least nine marks on his face, mouth and below his mouth and chin, and on both temples. Roux said Grace Mugabe should be subjected to normal processes and be investigated.

isis-killer-beheading-video-story-top New Uncharted 4 Update Adds Lost Legacy Character And More To Multiplayer
Aug 17, 2017 - 14:05
There's even an optional treasure hunt, with some varied but gentle puzzles protecting several keys that unlock a useful prize. Thankfully, Naughty Dog has lost none of its touch for constructing elaborate and electrifying landscapes and mythos.

isis-killer-beheading-video-story-top SPDR Dow Jones Industrial Average ETF Declares Monthly Dividend of $0.24 (DIA)
Aug 17, 2017 - 14:03
Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. Most signs seem to be pointing in the right direction as investors keep concentrating on superior returns from the stock market.

isis-killer-beheading-video-story-top More Travel Chaos In London After Train Derailed At Waterloo
Aug 16, 2017 - 15:58
Commuters are warned to use alternative routes during their commute on Tuesday evening as stations and trains will be very busy . South West Trains (SWT ) tweeted that the delays were caused by a "points failure/operating incident" near London Waterloo.

isis-killer-beheading-video-story-top Chelsea fine Costa for not training
Aug 16, 2017 - 15:58
But it is understood that Chelsea want Costa , as a player with two years remaining on his contract, to return to the club. At the moment they value Costa at £34m and Chelsea want £59m so there is little hope of a compromise in the coming weeks.

isis-killer-beheading-video-story-top Giancarlo Stanton Extends Home Run Streak To Six Games With Colossal Blast
Aug 16, 2017 - 15:57
The big blows in the seventh were delivered by Carlos Moncrief on an RBI single and Hunter Pence with a run-scoring double. The All-Star has a significant bone bruise in his left knee but no ligament damage, general manager Mike Rizzo said.

isis-killer-beheading-video-story-top Stephen Colbert gets serious in Trump-fueled edition of "The Late Show"
Aug 16, 2017 - 15:57
Fights broke out, and then a man drove into the opponents of the white supremacists. Trump struggled to respond to the neo-Nazi rally in Charlottesville , Va.

isis-killer-beheading-video-story-top U too? Google Pixel 2 could borrow HTC U11's squeezable edges
Aug 16, 2017 - 15:57
The inclusion of " Active Edge " also gives a strong hint that HTC will be making this year's Pixel smartphones as well. The smaller Pixel was thought to be made by HTC and that has now been confirmed after it has appeared on the US FCC.

isis-killer-beheading-video-story-top Charlottesville: Removal of Confederate monument in Kentucky is 'accelerated' after deadly violence
Aug 16, 2017 - 15:56
Lexington Mayor Jim Gray says the violence in Charlottesville sped up his efforts to get the statues moved to the city-owned Veterans Park.

isis-killer-beheading-video-story-top Japan's PM Abe sends ritual offering to Yasukuni shrine
Aug 16, 2017 - 15:51
The Japanese leader has not been back since, staying away from the shrine on the World War II anniversary for five straight years. Some conservative officials say the pilgrimages to the shrine are a chance to console the spirits of the dead and pray for peace.