The Trump Administration is planning to fix Obama’s abominable healthcare plan and bring the free market back into the mix.
Opening insurance up to competition will cause insurance companies to fight for clients. This will drive prices down and create more options when it comes to health plans.
The White House Council of Economic Advisers (CEA) recently released Trump’s plan to fix healthcare.
“The Trump Administration’s broad policy agenda is to deregulate markets and expand choice and competition to keep costs down for consumers and taxpayers. This report considers three changes that have the effect of expanding consumers’ health insurance options:
(1) reducing, through The Tax Cuts and Jobs Act of 2017, the individual mandate penalty to zero owed by consumers who did not have federally approved coverage or an exemption;
(2) permitting, via a June 2018 rule, more small businesses to form Association Health Plans (AHPs) to provide lower-cost group health insurance to their employees; and
(3) expanding, through an August 2018 rule, short-term, limited-duration insurance (STLDI) plans.”
“Our overall finding is that these changes, including the Trump Administration’s deregulatory reforms to expand health coverage options, will generate benefits to Americans that are worth an estimated $450 billion over the next 10 years.”
“We estimate that 5 million consumers will benefit because they will be able to obtain lower-cost insurance that better meets their needs through AHP or STLDI coverage. Another 5 million consumers will benefit because setting the mandate penalty to zero gives them the option of not paying for health insurance they did not want; instead, they can purchase other goods and services that they value more highly.”
“The CEA said that instead of sabotaging the ACA, the Trump administration offered millions of Americans more affordable health insurance options.
“The oft-expressed view that deregulation ‘sabotages the ACA’ by giving consumers more insurance-coverage options is misguided,” the CEA said.”
So no more penalties for those that can’t afford insurance. And lower priced options so that many more can afford insurance. Seems like its good for everyone.