The claim that 6 million poor people will lose insurance if the insurance companies do not continue to get $7 billion in subsidies is just another political scam.
First they need to explain what they did with the extra $175 billion they got from higher premiums this year on small-company employees such as my wife. I am on Medicare, so only she is on her insurance policy. In 2014 her premium was $363 a month with a $2,500 deductible. Because of the Affordable Care Act, she lost her insurance twice and the available ACA compliant plan costs $960 a month with a $2,500 deductible in 2017.
A Washington Post study estimated about 25 million people like her lost their original polices. If only 5 million paid the extra $7,000 a year we do, that is an additional $175 billion the insurance companies got for nothing, plus their subsidy scam. They are using scare tactics to increase their profits rather than good business practices that take effort – and the politicians pocket millions more of their campaign donations.
President Trump was right to stop this under-the-table stealing from taxpayers. It does not take a business genius to know that if 60 million small-business people can buy across state lines and form their own groups, some insurance companies are going to cave and rush to get that $3 trillion in sales at $416 a month and $5,000-a-year, per-person premiums.
Plus, the ACA mandates are due to kick in for large business employees in 2018, which definitely will crash the insurance market or strip another $1 trillion from those hardworking Americans.
Stopping this nonsense is another part of draining the swamp and outing corruption in Washington. Please call your representatives and senators in Congress and support it. Make sure they also know you understand that 15 million of the 20 million they claim will “lose” their insurance with the ACA repeal actually are young people who will go back to not buying insurance they do not need when it no longer costs them the 10 percent of income penalty effective in 2017.