Trump Government and Health Insurance Market Place

The United States Government under Trump is considering a number of ways by which an unstable market can be stabilized. The Donald J. Trump administration is worried about the people who purchase their own policies when it comes to health insurance. The aim is to reassure nervous insurance companies which may exit the field in 2018. Consumers must also be reassured about their future. The extra time will also help Republicans to change or tweak the healthcare law formulated by Obama.

Perceived problems of Obamacare

The measures will impact not only the “Obamacare” subsidized marketplaces, but also those who buy directly from the insurer and purchasing via an independent agent. The rapid increases in healthcare markets also negatively affected purchasing from outside a number of individual policies. These people, however, are ineligible for any government financial assistance. Final decisions are not yet taken. Officials of the Trump administration declined to comment before the expected Senate vote related to the confirmation of Rep. Tom Price as new health secretary. Price is an elected Republican from Georgia.

A few of the concerned measures could be executed by the new administration, but others will need congressional cooperation or action. The government is considering a number of regulatory changes like tightening the rules for the “special enrollment periods” which permit consumers to join outside standard open enrollment times. A number of insurers have complained that a few people takes advantage of such opportunities to obtain coverage when they require care. These people then exit the scheme, thus increasing expenses for those who remain.

Industry advantage

Insurers also demand a loosening of Affordable Care Act which stops insurers from charging customers who are advanced in age more than triple the premiums charged for young adults. There is no clarity about the possibility of this happening as the limitation is particularly written in the law. Republican officials say that the Trump administration may tweak a few things here and there to make it happen. This overcharging of older customers was routine before the ACA came into effect. The elderly were then charged five times than that of a young person. According to critics, although the ACA has made insurance much more affordable to the elderly, it has priced out young and healthy.

The proposed changes are made due to repeated requests by insurers. The latter argue that these will check the rise of premiums. Even during the first week of February, two big insurers, Aetna and Anthem, have said that they are analyzing whether they will participate in 2018.

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