Team Trump's answer to ballooning Obamacare premiums: less generous coverage [View all]
Trump administration officials, looking at the possible impact of large insurance premium increases for millions of next year’s Obamacare customers, want more people to consider plans with less generous benefits and high deductibles.
The agency that oversees the ACA announced early this month that it would expand eligibility for “catastrophic” plans sold in Affordable Care Act online marketplaces. The plans require people to spend more than $10,000 a year on deductibles before the policies pay most medical costs but carry lower monthly premiums than other Obamacare policies.
The move reflects growing concern among Republicans about political backlash if Congress doesn’t extend larger tax credits put in place during the covid-19 public health emergency to help consumers pay their premiums. The extra subsidies are set to expire at the end of the year, resulting in an average 75% increase in the amount people pay for coverage, according to KFF, a health information nonprofit that includes KFF Health News.
A small, bipartisan group of House lawmakers introduced legislation to extend the enhanced covid-era subsidies for one more year, which would keep them in place through midterm congressional elections in fall 2026.
https://www.msn.com/en-us/money/other/team-trump-s-answer-to-ballooning-obamacare-premiums-less-generous-coverage/ar-AA1NenCC
$10,000 a year deductible, why bother having insurance?
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