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.