TrumpCare: 5 Things You Need to Know

By Health Care FOXBusiness

What's really inside of TrumpCare?

We breakdown 5 main points of what's in and what's out of TrumpCare.

President Trump laid down the gauntlet on Thursday, telling lawmakers to vote on TrumpCare one way or another. Now it appears House Republicans will finally vote on the long-awaited bill to replace Obamacare, capping off a battle that began when it was first introduced in 2009. FOXBusiness.com takes a look at some of the American Health Care Act’s major points.

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Five things to know:

Tax Credits
The plan would make tax credits available to people who don’t get health insurance through their jobs, offering between $2,000 and $4,000 in credits to individuals, depending on their age. The package includes setting aside approximately $75 billion in funds to allow the Senate to rewrite the tax credits provision to help Americans between the ages of 50 and 64.

Medicaid
The plan caps federal funding for Medicaid for the first time. The bill prevents any new more states (31) from signing up for higher federal Medicaid payments under the health care law’s Medicaid expansion and ends the Medicaid expansion entirely in 2020. The cap to federal funding for Medicaid may leave may states on the hook for millions of dollars for health care and if the state does not pay, doctors or patients will have to come up with the money.

Penalties Go Away  
Individuals will no longer have to pay a penalty if they don’t have health coverage. The so-called employer mandate, which requires certain employers to provide a set level of health coverage to workers or pay a penalty, will no longer be enforced. States will now have the option to place work requirements on able-bodied adults enrolled in the Medicaid program.

The Uninsured
The CBO says the bill would raise the number of uninsured by 24 million in 2026, compared to the current law. In 2026, an estimated 52 million people would be uninsured, compared with 28 million who would lack insurance that year under current law. By comparison, Obamacare cut the number of uninsured Americans by more than 20 million.

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Obamacare Leftovers, Sticking Around
The bill does not immediately repeal all of the taxes originally included in Obamacare. The revised health care bill keeps the Obamacare provision for allowing people to stay on their parents’ insurance until the age of 26 and insurance companies cannot deny coverage to those with preexisting conditions.

 

Sources compiled from the Fox News Brainroom

 

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