Plans to repeal and replace ACA face opposition from both sides
By Admin | March 15, 2017
Things don’t appear to be going smoothly for the plans to repeal and replace Obamacare, AKA the Affordable Care Act (ACA).
A Republican plan backed by President Trump was introduced to Congress on Monday, March 6, but it faced criticism from both Democrats and Republicans alike.
Currently, the ACA requires all US residents to obtain health insurance or face monetary penalties. The new plan aims to remove this requirement and replace it with incentives in the form of income-based subsidies. People could end up with tax credits ranging from $2,000 to $4,000 to use in the open market to purchase plans.
Republicans claim the cost of premiums would drop while many insurance companies worry that younger, healthier people--who are necessary to put money into the healthcare system--would simply forgo coverage.
Many conservative lawmakers feel the plan in its entirety looks too much like the current ACA. And doctors and care providers have voiced concerns that the new plan will force many to lose coverage, thus raising costs overall.