President Donald Trump has claimed that under the Affordable Care Act, insurance companies have “taken advantage of this country” and “made a fortune,” which he “stopped” by ending payments for cost-sharing subsidies on the ACA marketplaces. That’s misleading, at best, for several reasons.
Affordable Care Act
President Donald Trump said “bailouts for insurance companies” would “end very soon” if Congress didn’t pass a new health care bill. Sen. Susan Collins said the payments aren’t a bailout, “but rather help people who are very low-income afford their out-of-pocket costs.” Trump distorts the facts.
Republicans are spinning their health care bills’ impact on Medicaid. Sen. Pat Toomey made the questionable claim that under the Senate bill “no one loses coverage” gained under the Affordable Care Act’s Medicaid expansion. White House Counselor Kellyanne Conway claimed there “are not cuts to Medicaid” in the bills that reduce future Medicaid spending by hundreds of billions.
The Congressional Budget Office projects that the Senate health care bill would increase the number of uninsured Americans by 22 million in 2026 — a figure that both sides in the debate are distorting.
Sen. Rand Paul, who opposes the Senate health care bill, says subsidies “are actually greater under the Republican bill than they are under the current Obamacare law.” But the CBO says the average subsidy under the bill would be “significantly lower than the average subsidy under current law.”
House Minority Leader Nancy Pelosi cites research from two partisan groups to claim that the Republican health care bill would result in the loss of 1.8 million jobs by 2022. But a recent independent study put the expected job loss at 413,000 by that year.