Trump Signs Executive Order To Begin Unwinding Obamacare
“It would essentially create a parallel regulatory structure within the individual and small group markets that is freed from the various consumer protections established,” said Spencer Perlman, a policy analyst with Veda Partners, a Bethesda, Maryland-based advisory firm. “The end result could be a death spiral for ACA-compliant plans.”
Which, if the Democrats are right, is precisely what Trump hopes to accomplish.
No matter what the final outcome of Trump's EO, one thing is clear: at least 12.7 million taxpayers will be happy with the outcome. As Bloomberg reports, according to the Internal Revenue Service, 12.7 million taxpayers claimed a health-care coverage exemption on their tax forms, some because they couldn’t find an affordable plan. Condeluci said people are sitting on the sidelines because the individual market is too costly.
“Now, there might be an option for them,” he said.
Of course, another 12 or so million will be less than excited: about 83% of the 12.2 million people in the Obamacare marketplace receive subsidies, i.e., premium tax credits, to help cover the cost of insurance premiums, according to the Centers for Medicare and Medicaid Services. For those who don’t get subsidies, the coverage can be expensive. The average monthly premium for a family of four with a $60,000 annual income was $1,090, or $13,080 a year for a mid-level “silver” plan, according to a 2016 report from the U.S. Department of Health and Human Services.