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.
The Department of Health and Human Services has announced it will “immediately” stop making payments that help low-income people pay for out-of-pocket health care expenses. In this video, we explain more about the cost-sharing subsidy program.
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.
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.”