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Friday, March 17, 2017

Americans Could End Up Paying More For Health Insurance Under Trump's New Healthcare Plan -- Here's How

President Donald Trump wants to replace the Obama Health Plan with one that he claims will be better. He has promised that the new plan, Trumpcare, will “expand choice, increase access, lower cost, and provide better healthcare.” Although Trump is not forthcoming on the details, leaks from the White House have revealed that the new bill will actually cost more for people in at least 12 states.

What Trump is NOT telling you

Trump tells Americans he will lower the cost of health insurance, but he doesn't say how. Information leaked about the new healthcare bill reveals that one way is by eliminating many of the basic services that are now covered under health care plans.

10 services that could be affected under the new healthcare plan, according to AARP:*

  1. Outpatient care
  2. Prescription drugs
  3. Emergency care
  4. Mental health services
  5. Hospitalization
  6. Rehabilitative services
  7. Preventive and wellness services
  8. Lab services
  9. Pediatric care
  10. Maternity and newborn care
* These are the services that insurance plans are required to cover under the current Obamacare

Take preventive and wellness services, for example. Obamacare ensured that health insurance would cover the cost of wellness visits, including providing all of the 50 preventive services recommended by the U.S. Preventive Services Task Force at no extra cost. If this was taken away, people would not pay out of their pocket. They would wait until they are sick, which would then cost more in medical services, driving up costs in the long run.

Lower tax credits = higher out-of-pocket costs

Another way Trumpcare will lower costs overall is to lower healthcare tax credits. How will this work out? Less credits means people pay more out-of-pocket. The Center for Budget and Policy Priorities recently released a chart that shows people in 11 U.S. states will have their tax credits cut in half. Many others will also end up paying more for health insurance because their tax credits for health care will be reduced by up to 78 percent, or up to $10,243. Sadly, people in rural areas, low-income people, and the elderly will be hit the hardest.

Obamacare vs Trumpcare -- which one will end up costing more? Read between the lines, do the math. The answer is there.

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