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The fate of OBAMACARE is in Trump’s hands now! Here’s what you must know

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By: Barbara Delinsky
on 30th Dec,2016

Donald trump’s victory over Hillary Clinton casted dark clouds over Obamacare (also known as the Affordable Care Act). Let us know why does Mr. Trump want to repeal Obamacare?
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This presidential election, Donald trump’s victory over Hillary Clinton casted dark clouds over Obamacare (also known as the Affordable Care Act). However, it’s clear that Trump wants to call off OBAMACARE after taking office.

But, the question is, why does Mr. Trump want to repeal Obamacare?

The answer maybe is, though Obamacare had promised to give affordable health insurance to uninsured people, with time, parts of this policy have weakened; thus causing these individuals to pay more toward their insurance premiums. In short, Obamacare has failed to keep its promises.

Reasons for decline of Obamacare

Obamacare’s decline is not dependent on the above reason only. There are also other reasons, which are:

1 Penalty is imposed

Affordable Care Act (ACA) aimed at providing people with high-quality and cost-effective health insurance. But, those who are uninsured and do not qualify for an exemption are required to pay a moderate fine.

However, the penalty only increased with time.

2 Numerous taxes have been introduced

Obamacare is no longer affordable. New taxes were added to it like pharmaceutical sales tax and medical device tax.

Moreover, individuals with high income had to pay additional taxes.

3 Enrollment process is complicated

Initially, the enrollment procedure in Obamacare was too complicated. This complexity has delayed and lowered the signups. Though these issues have been fixed, still some issues are there which are creating problems for the consumers.

4 Limited choice

Those who’ve enrolled in Obamacare has limited options for choosing their hospitals and doctors. For instance, many advanced and internationally known cancer hospitals are excluded from ACA.

5 Loss of jobs

Obamacare requires employers to provide health insurance coverage to all their full time employees. As a result, employers are slashing employee work hours to avoid covering for their workers, which is causing loss of jobs and wages.

Now, let us find out what health care plans Trump has in store for the nation.

Donald Trump’s health care plan for America

Here’s what you need to know about Trump’s vision on health care:

  • Cancel the Affordable Care Act (Obamacare) and replace it with Health Savings Account (HSA)
  • Import safe and low-cost prescription drugs to the US
  • Making individual health insurance premiums tax deductible
  • Allow selling of health insurance across state lines
  • Require more transparency of price from health insurers
  • Maximize block grants to the states
Why does Trump want to cancel Obamacare?

Here are some reasons stated by Trump as to why he wants to cancel Obamacare:

1 Sell insurance across state lines

Presently, insurance companies can sell across state lines, but they need to follow the rules and regulations of the state where they’re selling the insurance.

Under Trump, the insurance companies have to follow regulations of the state where they’re located.

The Republicans think that it would lower the costs and provide consumers with ample options.

2 Eliminate individual mandate

Donald Trump believes the federal government shouldn’t compel individuals to buy health insurance.

So, he wants to eliminate the individual mandate of Obamacare in his health care insurance plan.
Trump’s website states that “Our elected representatives must eliminate the individual mandate. No person should be required to buy insurance unless he or she wants to.”

3 Create a tax-free HSA

Mr. Trump wants everyone to have an affordable health care coverage. So, he wishes to introduce a tax-free Health Savings Account (HSA).

He also mentioned that an insurer's “family members can use the account without penalty.”

5 Deductions of health insurance premiums from taxes

Trump’s health care program plans to provide individuals with the ability to cut back insurance premium payments from their personal tax returns.

Trump proposed that “businesses are allowed to take these deductions so why wouldn’t Congress allow individuals the same exemptions?”

What’s the future of Obamacare?

On 8th November, the people of America has decided the future of Obamacare. All we can do is to keep our fingers crossed and hope for the best to come.

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