WASHINGTON (Reuters) - President Donald Trump will stop payments worth billions of dollars to health insurers to subsidize low-income Americans, the White House said on Thursday, a move health insurers have warned will cause chaos in insurance markets and a spike in premiums.
The move to undermine President Barack Obama’s signature healthcare law, officially called the Affordable Care Act, drew criticism from Democrats and the threat of a lawsuit from state attorneys general.
Trump has made the payments, guaranteed to insurers under Obamacare to help lower out-of-pocket medical expenses for low-income consumers, each month since taking office in January. But he has repeatedly threatened to cut them off and disparaged them as a "bailout" for insurance companies. |