Donald Trump has voiced his support for a Senate Republican bill that would see $1,500 deposited directly into the healthcare savings accounts of millions of Americans.
If passed, the bill could represent a major shift in healthcare policy and potentially help shape Trump’s long-term legacy on the issue.
Donald Trump’s Health Care Plans Are Moving Forward
In recent weeks, there has been extensive discussion surrounding Donald Trump’s ideas about issuing checks to Americans — whether such a move is advisable, when it might occur, and how many people would qualify. However, this proposal is entirely different in nature, as it targets one of the most pressing concerns for many Americans: healthcare.
The concept behind the plan is straightforward. Instead of funneling large sums of money to insurance companies, individuals would receive funds directly to place into their healthcare accounts.
That, at least, is how Trump has framed the initiative.
Speaking — as he often controversially chooses to do — aboard Air Force One, Trump publicly backed the bill introduced by Senate members of his own party.
Addressing insurance companies, he said: “They’ve been ripping off the public for years,
‘Obamacare is a scam to make the insurance companies rich,
‘Billions and billions of dollars is paid directly to insurance companies.’”
Referring to the proposed legislation, Trump added: “I like the concept. I don’t want to give the insurance companies any money.”
The bill, which is scheduled for a Senate vote this week, is designed to reduce the overall cost of Obamacare, which currently provides healthcare coverage for approximately 24 million Americans.
Under the legislation, individuals enrolled in the Affordable Care Act between the ages of 18 and 49 would receive $1,000, while those between the ages of 50 and 64 would receive $1,500.
To qualify, applicants must have a household income at or below 700 percent of the federal poverty line for their family size.
They must also be enrolled in at least a bronze-level healthcare plan — which applies to about one-third of those on Obamacare — or a catastrophic health plan, which is far less common.
How Much Is This Going to Cost?
Approximately $10 billion would be allocated to fund these payments. However, the money would not be permitted for use on certain procedures, including abortions or gender-affirming surgeries or treatments.
Individuals enrolled in silver, gold, or platinum Obamacare plans would not be eligible for the program.
Additionally, Americans who receive employer-provided health insurance, or who are enrolled in Medicare or Medicaid, would also be excluded.
Speaking to the New York Post about the bill, co-sponsoring Senator Bill Cassidy said: “I absolutely agree with President Trump that we need to redirect subsidies from insurance companies and give patients the power,
‘Republicans want real solutions that actually make health care affordable and put money in families’ pockets.
‘I applaud the president for his leadership on this issue.’”
The bill is scheduled to move forward with a procedural vote on Thursday.