This Monday, the House Republicans finally released the much-awaited bill to repeal and replace Obamacare. Dubbed earlier as “Trumpcare,” the new healthcare bill looks just like the former administration’s healthcare system. The only difference is that Trump’s healthcare bill will be “more conservative” and will focus more on “tax credits” that will be hinged on an individual’s income.
The new Trumpcare, dubbed as the American Health Care Act, aims to dismantle the core of Obamacare. With the new bill, Americans will be given tax credits instead of subsidies to be able to buy insurance ranging from $2,000 to $4,000 cap annually with the increase depending on the person’s age. With the new system, older people and those with minimum income will get less financial assistance compared to the Obamacare health system. On the other hand, people with a much higher income and younger people will get more coverage when it comes to healthcare. As House Speaker Paul Ryan puts it, Trumpcare will “give every American access to quality, affordable health insurance.”
In an in-depth analysis, the Washington Post noted that the bill to repeal and replace Obamacare has a “more conservative vision” regarding the healthcare system of America. Trumpcare looks a lot like Obama’s healthcare law, the Affordable Care Act, passed in 2010. Obamacare has made the most significant impact in expanding the insurance coverage of Americans since Medicare and Medicaid were created in 1960.
Since the beginning of his campaign, President Donald Trump has always said that he plans to repeal and replace Obamacare. The newly introduced bill this Monday was the GOP’s best shot and first attempt so far at delivering on that promise.
Bigger Problems With Trumpcare
However, the Republicans might face a bigger problem with the looming costs of the overhaul of the ACA that went on for almost seven years. The new healthcare bill meant to repeal and replace Obamacare might also put a federal entitlement into effect, especially with millions of Americans that will be left behind without insurance should the new bill comes into effect.
Days before the House Republicans unveiled the new healthcare bill to repeal and replace Obamacare, Sen. Rand Paul (R-Ky.), who opposes the new healthcare plan, called the new bill to repeal and replace Obamacare as the “Lite” version – something that they do not want to sign up for. In a post from CNN Politics edition, Paul pulled a media blitz by going to Twitter saying that the new bill will neither repeal nor replace Obamacare with it being too similar to the health bill signed by former president Barack Obama. Paul’s take on the new Trumpcare health bill looks like it will not do American’s any better when it comes to getting healthcare.
@RandPaul I will not vote for Obamacare Lite nor will many of my colleagues. We will keep our word. I call on House leaders to do the same
— Senator Rand Paul (@RandPaul) March 2, 2017
Senate Minority Leader Charles E. Schumer (D-N.Y.) also has his say in line with Paul’s statement with Trumpcare repealing and replacing Obamacare.
“Trumpcare doesn’t replace the Affordable Care Act, it forces millions of Americans to pay more for less care.”
Trumpcare vs. Obamacare
Under the new Trumpcare that will repeal and replace Obamacare, more people would be given tax credits. However, people with lower income will have less financial help for their healthcare. The new bill will also force Americans to pay more for insurance and get less healthcare coverage. Those with high income – like millionaires – can also receive government assistance. Tax credits work differently that premiums will be paid to people from their health savings accounts if they have one. The tax break position of the Obamacare replacement and repeal plan will also work the opposite way. Lastly, the uninsured will be charged to pay more with 130 percent of their annual premium for lapses in insurance compared to just the $695 penalty or 2.5 percent of an individual’s income, whichever may be higher, in Obamacare.
To put it in a few short words, a lot of Americans might lose much-needed coverage once the new health bill pushes through. Not only that, people may have to pay more and get less coverage for healthcare than they deserve. Hopefully, the House Republicans already have the “amendments” in place to make Trumpcare work if it will repeal and replace Obamacare.
Trumpcare to replace Obamacare: will it be better at lowering healthcare costs?
In a post from The Hill, GOP Freedom Caucus Chairman Mark Meadows (R-S.C.) expressed his biggest concern with the party’s new proposed plan of whether or not it will be able to ultimately lower the expensive price that comes with healthcare. Without an answer yet to his question, the Freedom Caucus chairman will hold out his judgment to the effectiveness of the new bill and if it can really help Americans. In a statement, Meadows added that even with the progress they are making, they still have to do better and hopes that making amendments to the original healthcare act will be the answer.
“We’ve got to find that sweet spot. We really need to look at some amendments to make sure that we get rid of the taxes.”
The House Republicans plan to push the newly released healthcare bill to repeal and replace Obamacare later this week. By that time, the GOP hopes to get enough votes from the committee to put the new plan in place of Obamacare.
What do you think of Trumpcare? Do you favor it better than Obamacare? Share your thoughts with us below.
[Featured Image by J. Scott Applewhite/AP Images]