Trumpcare Narrowly Passes In The House But Faces An Uphill Battle In The Senate

On Thursday lawmakers in the U.S. House of Representatives narrowly approved revised Republican healthcare legislation of the American Health Care Act in a close House vote that repeals and replaces large sections of Obamacare but faces a difficult and uncertain path forward in the Senate where Republicans have a slimmer majority and efforts are now underway to write their own version of the healthcare legislation.

The American Healthcare Act, lacked enough Republican support last month for a House vote, but gained enough support on Thursday after it was revised and won approval by a margin of 217-213 with no House Democrats voting in favor of the health care bill that makes some fundamental changes to Obamacare, America’s current healthcare model.

President Trump gathered with Republicans from the Rose Garden during a press conference on Thursday and claimed that healthcare premiums will be lower under the newly approved House healthcare legislation.

“And I will say this, as far as I’m concerned, your premiums, they’re going to start to come down.  We’re going to get this passed through the Senate.  I feel so confident” President Trump said.

The Congressional Budget Office concluded on March 23rd with their score of the American Health Care Act that healthcare premiums will actually rise by 15 to 20 percent in the nongroup market until 2020 when they will begin to move lower.

Overall, the new Republican healthcare legislation increases premiums for older adults and permits discrimination for people with preexisting conditions by lifting prohibitive rules that restrict insurance companies from charging higher prices for people with preexisting conditions.

By ending the Obamacare protections related to preexisting conditions, the new healthcare legislation allows states to request waivers, giving insurers the green light to charge higher premiums for people with preexisting conditions.

An extra $8 billion was included in the newly revised healthcare legislation to benefit people across the U.S. states in “high risk pools” that lack money to cover the costs of their preexisting conditions.

The original Republican healthcare version that was scored by the CBO in March had $100 billion targeted to help this group pay for the costs of health care and insurance from 2018 to 2026 and another $15 billion was added by House leaders, according to the New York Times.

The current Republican healthcare legislation cuts Medicaid funding by $839 billion from 2017-2026, and reduces Medicaid expansion for states with poor, disabled, and aging populations.

It removes 2 taxes on individuals earning more than $200,000 or couples earning over $250,000, a 3.8 percent Obama imposed tax on investment income, and 0.9 percent increase on Medicare payroll tax.

The healthcare legislation also removes the individual mandate that charges a tax for Americans that don’t obtain healthcare and ends the employee mandate, requiring large employers to offer affordable coverage to their employees.

For one year, the healthcare legislation restricts Planned Parenthood from receiving federal money.

The American Medical Association and AARP have both come out against the Republican Healthcare legislation that seeks to replace Obamacare.

Vermont Senator Bernie Sanders released a statement yesterday, calling the Republican healthcare legislation an “absolute disaster” and an “enormous shift of wealth from working people to the richest Americans.”

Here is Sanders’ complete statement:

The bill that Republicans passed today is an absolute disaster. It really has nothing to do with health care. It has everything to do with an enormous shift of wealth from working people to the richest Americans. This bill would throw 24 million Americans off of health insurance – including thousands of Vermonters – cut Medicaid by $840 billion, defund Planned Parenthood and substantially increase premiums on older Americans. Meanwhile, it would provide a $300 billion tax break to the top 2 percent and hundreds of billions more to the big drug and insurance companies that are ripping off the American people. Our job now is to rally millions of Americans against this disastrous bill to make sure that it does not pass the Senate. Instead of throwing tens of millions of Americans off of health insurance, we must guarantee health care as a right to every American.”

Written and Edited by:

Johnathan Schweitzer

@SchweitzFinance

schweitz31@gmail.com

Here’s my latest YouTube Video of Trumpcare

 

 

 

 

 

 

 

About Johnathan Schweitzer 1468 Articles
Welcome to Schweitz Finance. I hope that my financial website will provide you with relevant market information to help you manage your investments with greater clarity and insight.
Contact: Website