Obamacare subsidy cut-off would raise insurance prices

Schnell Gary

The payments are estimated to amount to $7 billion in 2017. After the Senate effort failed in July, Trump tweeted days later threatening to stop the payments.

Trump has been threatening to not pay the subsidies on insurance premiums for those who qualify through the Obamacare exchanges as early as next month.

The government pays the subsidies to insurers, who use them to reduce out-of-pocket expenses for low-income Obamacare subscribers.

Almost 8 million Obamacare policyholders who now receive federal subsidies to help defray the cost of their health insurance could lose that support and see premiums rise by 20 percent starting next January if the Trump administration stops those "cost sharing reductions" in 2018, two congressional fiscal agencies reported Tuesday.

The federal deficit would increase as more people relied on subsidies to access insurance: The federal deficit would increase by $194 billion between 2018 and 2026 compared to the current baseline. A Politico story in January noted that the Trump administration reduced television advertising by about $800,000 per day for the last four days of open enrollment-a few million dollars.

Indian, Chinese troops briefly skirmish at Ladakh's Pangong Lake
Apparently stealing a leaf from Srinagar streets, the Indian and Chinese armies have resorted to stone pelting on each other. Officials in the Army in South Block refused to say anything with all the questions soliciting a crisp reply-"No comments".

They are the subject of a court battle between the House of Representatives and the Trump administration, which inherited the case from the Obama administration. As a result, his net premium for a silver plan would rise by only about $4 a month (from $450 to $500), while he would now have the option of making no net premium payments at all for a gold plan that previously would have cost him $4,800. "How can any company in any sector trust the United States after seeing health insurers treated so shabbily?"

Mara Lee covers developments in health care policy in Congress and around Washington. In June, the insurer announced that it would team up with Humana to offer small-business health plans in the Nashville, Tennessee, area.

Republicans slammed the payments as a bailout to the insurance industry and Trump has threatened to yank them. These payments were essentially an agreement reached under the ACA. Further, Republicans are reportedly planning to move on from health care to tax reform when they return from recess. CSR subsidies help lower-to-moderate income people purchase more affordable coverage; 57 percent of those enrolled in the ACA exchanges benefit from this type of subsidy- that's 5.9 million people.

On Aug. 15, the CBO released a report estimating that premiums would increase by 20 percent by 2018 if the DHHS stopped providing insurance companies with CSR payments. Because Obamacare's tax credits are all pegged to the cost of silver coverage, their value will shoot up. Its next installment is due August 21. He said Congress should fund the payments through next year, along with allowing states more flexibility to apply for waivers from Obamacare regulations.

Senate Health Committee Chairman Lamar Alexander, Tennessee Republican, praised the administration's decision to keep the money flowing for now.

Related news:

Hot News

isis-killer-beheading-video-story-top White nationalist Richard Spencer may speak at UF
Aug 17, 2017 - 07:29
Spencer had plans for a Texas A&M event on September 11, and another one at the University of Florida on September 12. It is not yet clear how the controversies could affect Spencer seeking to speak at MSU or elsewhere in MI .

isis-killer-beheading-video-story-top BBCI: Tom Cruise injury halts Mission: Impossible 6 filming
Aug 17, 2017 - 07:28
The statement added: " Tom wants to thank you all for your concern and support and can't wait to share the film with everyone". Cruise is known for doing a bunch of his stunt work himself, and it seems to have bitten him in the ankle this time out.

isis-killer-beheading-video-story-top The GOP establishment got what it wanted (sorta) in Alabama's Senate primary
Aug 17, 2017 - 07:27
Hinchman told Roll Call the results Tuesday from the 5th District indicated a crease from which a new candidate can emerge. Unusual trailed Moore 32 percent to 39 percent with almost 90 percent of the vote in, according to the Associated Press.

isis-killer-beheading-video-story-top Missing engagement ring found on garden carrot 13 years later
Aug 17, 2017 - 07:24
The lost ring was actually already a replacement that the couple had bought together in 1995 after her original ring had cracked. Grams, 84, told CBC News that she believes she lost the ring in 2004 while pulling weeds from a garden on her family farm .

isis-killer-beheading-video-story-top No confrontation between Indian, Chinese troops in Arunachal
Aug 16, 2017 - 14:53
Meanwhile at least 52 trucks belonging to PLA parked on the road built by the Chinese army were spotted on the side of the lake. The two sides have frequently accused each other of intrusions into each other's territories, but clashes are rare.

isis-killer-beheading-video-story-top Watch this Yankees fan's pained reaction to Rafael Devers's game-tying homer
Aug 15, 2017 - 00:16
Even though he didn't record the win, Sale delivered a dominant performance with 12 strike outs during his time on the mound. Many players who the Yankees have relied on in the first half of the year have not come through in the second half.

isis-killer-beheading-video-story-top Gorakhpur Hospital: Doctors delay announcing the death of baby
Aug 15, 2017 - 00:12
A team of specialists from the federal health ministry was sent to the hospital on Saturday to verify what caused the deaths. Talking to media persons Mr Nadda announced that a regional medical research Centre will be established at Gorakhpur .

isis-killer-beheading-video-story-top Iran Parliament Increase Missile Funds After US Sanctions
Aug 14, 2017 - 00:18
The bill allows for a boost in spending on Tehran's missile program and the Islamic Revolution Guards Corps' defense mechanism. Citing recent U.S. sanctions and "adventurism", Tehran plans to bolster its ballistic missile system as tensions rise.

isis-killer-beheading-video-story-top Central Intelligence Agency chief: 'Nothing imminent' in standoff with N Korea
Aug 14, 2017 - 00:13
President Donald Trump has offered fiery warnings for North Korea, saying that the USA military was "locked and loaded". North Korean officials in turn have accused the US leader of driving the Korean peninsula to the brink of nuclear war.

isis-killer-beheading-video-story-top Scaramucci criticizes President Trump's response to the violence in Charlottesville
Aug 14, 2017 - 00:11
Does he have to go? Scaramucci today said that "for the record, I thought that was off the record". Trump is very well aware of these elements, and he knows what to do with them, Scaramucci noted.

isis-killer-beheading-video-story-top Kenyan girl shot dead as post-election anger boils
Aug 13, 2017 - 00:37
Police also used tear gas on a large convoy of vehicles carrying opposition officials that tried to enter Kibera. The gunfire rang out in the Nairobi slum of Kibera and in the southwestern city of Kisumu, the witnesses said.

isis-killer-beheading-video-story-top Snap misses across the board for Q2 earnings, stock dives
Aug 12, 2017 - 00:11
The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. Finally, Jennison Associates LLC acquired a new position in Snap during the first quarter valued at about $119,178,000.

isis-killer-beheading-video-story-top Denmark says 20 tons of insecticide-tainted eggs were imported
Aug 11, 2017 - 00:15
The products that are being withdrawn by retailers include egg salads, sandwiches, mayonnaise and egg snack pots. Fipronil is not deemed to be a risk to food safety , but is not authorised for use in food producing animals.

isis-killer-beheading-video-story-top 'Fire and fury' ends Dow's winning streak
Aug 10, 2017 - 00:12
Bank Private Client Group in Helena, Montana, said the market's risk-off move on North Korea tensions has been relatively shallow. Elsewhere, the German Dax has opened down 0.80%, France's CAC40 index is down 0.87%, and the Euro Stoxx 50 is down 0.81%.

isis-killer-beheading-video-story-top Minnesota governor calls mosque attack a 'criminal act of terrorism'
Aug 10, 2017 - 00:10
Keith Ellison said, "That bomb does not represent Bloomington", and called for a response of love and inclusiveness. Saturday, Bloomington police responded to an explosion at the Dar Al Farooq Islamic Center , authorities said.