If the new, Donald Trump-backed health care plan, proposed by Republican House Speaker Paul Ryan to “repeal and replace” the Affordable Care and Patient Protection Act of 2010, successfully passes the House and Senate and is signed into law by Trump, many of the Americans most directly hurt by the new law will be Trump voters themselves.
That conclusion comes from a new study that shows how segments of the population who voted for Trump stand to pay thousands more in health care costs under the Trump legislation.
But while middle-class and lower-income voters who cast their ballots for Trump last November will be smacked with painful increases in their health care costs, the new Ryan-Trump plan slashes taxes for the wealthiest Americans by thousands.
By eliminating two tax increases contained in the 2010 ACA, or “Obamacare” bill, the new bill already being labeled “Trumpcare” will allow the top 1 percent of American earners — those who make at least $699,000 per year — to enjoy a tax break of $35,000 on average, according to Money Magazine.
The New York Times on Friday published an analysis of how segments of the population who will see costs go up — mainly in the form of lost health care subsidies provided under the ACA — voted in the 2016 presidential election. The full study by Nate Cohn of the Times Upshot section, and titled “Trump Supporters Have the Most to Lose in the G.O.P. Repeal Bill,” may be read at this link.
According to Cohn’s findings, voters who will lose at least $5,000 in health care subsidies under Trumpcare voted for Trump by a margin of 59 percent to 36 percent over his Democratic opponent, former Secretary of State Hillary Clinton.
— ABC News Politics (@ABCPolitics) March 9, 2017
By replacing the ACA subsidies with tax credits, the Trumpcare plan hits older Americans in rural areas harder than any other group. The new Trumpcare plan also allows insurance companies to raise premium rates on Americans over age 50 as well, slamming lower income, older Americans especially hard.
“We estimate that the bill’s changes to current law’s tax credits could increase premium costs for a 55-year old earning $25,000 by more than $2,300 a year,” wrote Joyce A. Rogers, Senior Vice President of the American Association of Retired Persons, in letter to congress. “A 64-year old earning $25,000 that increase rises to more than $4,400 a year, and more than $5,800 for a 64-year old earning $15,000.”
According to Cohn’s study, those who will see their costs go up by at least $7,500 per year due to lost subsidies voted for Trump over Clinton 58-39. And those who will take a hit between $5,000 and $7,500 voted for Trump 60-35.
But the Trumpcare plan actually contains some benefits for American voters who cast their ballots for Clinton. Individuals who stand to see a win of up to $2,500 voted for Clinton over Trump by 49 percent to 43 percent, while those who will gain more than $2,500 also supported Clinton, albeit more narrowly, 47-46.
@realDonaldTrump So so sorry I voted for you. LIES! Nothing in new Healthcare to lower premiums and deductibles.
— Mary Bednar (@sandpiper2319) March 9, 2017
Also, while the Trumpcare plan eliminates the unpopular “individual mandate,” which under Obamacare required that Americans who fail to acquire health insurance pay a penalty generally no more than a few hundred dollars on their taxes, the Republican health care bill slaps a potentially even higher cost on people who go without health care — even for brief periods of time.
Under the Paul Ryan and Donald Trump plan, any American who goes without health insurance for at least 63 consecutive days, for any reason, can be slapped with a whopping 30 percent surcharge on their insurance premiums when the do finally purchase a health care plan.
EXPLORE THE DONALD TRUMP INQUISITR ARCHIVE
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