President-elect Donald Trump has repeatedly vowed to repeal and replace Obamacare.
These statements therefore suggest that big changes are in store for the health insurance marketplace and Americans who rely on it.
How soon would this new legislation come into effect? What would it look like?
Health policy analysts say that an outright repeal of Obamacare is unlikely without bipartisan agreement.
It is possible for Congress to defund Obama’s Health care plan by using budget reconciliation. This is a streamlined process for making tax and spending charges.
Obamacare could be put down by a Senate filibuster with an outright appeal. A filibuster is an obstructive tactic used in the United States Senate to prevent a measure from being brought to a vote.
The most common form of filibuster occurs when a Senator attempts to delay or entirely prevent a vote on a bill. This is done by extending the debate on the measure. Senators may thus speak for as long as they wish Furthermore they can choose any topic. they choose. However, three fifths of the Senators duly chosen and sworn may therefore bring the debate to a halt by invoking cloture.
In 2015 Republican Tom Price of Georgia sponsored a measure to cut off funding for Obamacare.
Price’s reconciliation bill would have stopped premium tax credits and cost-sharing subsidies. These elements were intended to make health insurance more affordable for low and middle income Americans. This bill would also have ended individual tax penalties for people who failed to maintain health insurance coverage.
Medicaid is currently operating in 32 states. This bill would furthermore ensure that federal funding for Medicaid expansions would be cut off.
The principle reforms by the Trump administration includes health savings accounts (HSAs). Furthermore, greater state discretion in regulating health insurance.
Paul Ryan, the House Speaker, compiled some key elements in his proposal called “A Better Way”. Ryan has suggested market-based solutions. Examples are tax credits adjusted for age. This will thus assist people in buying health insurance in the individual market.
Although details of Trump’s healthcare plan remain sketchy, the major GOP proposals have a few features in common:-
1. Using health savings accounts
2. Creating high-risk insurance pools
3. Selling health insurance across state lines