Upon election,
President Donald Trump promised to “repeal and replace” ObamaCare, the flagship
healthcare program of former President Barack Obama. America’s healthcare
system is a mess and many people were in the favor of revolutionizing the
previous program in favor of something that would increase medical support for
the public. Here are 5 ways how Trump Care Differs from ObamaCare:
1.
Eliminating limits
on Healthcare Savings
Under TrumpCare,
individuals will be allowed to save double the amount in their healthcare
savings while ObamaCare had placed specific limits on it. Now, Americans will
not be forced to have insurance and larger companies will not be forced to
insure their employees.
2.
More Freedom for Insurance
Companies
Insurance
companies can now set their own prices, enjoying greater freedom. This means
that older people may now have to pay 5 times the amount charged to younger
customers previously. ObamaCare set a limit to three times the price.
TrumpCare is also
set to expand Medicaid, a health care program funded by the state and federal
government to support insurance for patients with debilitating illnesses, especially
for those who are knee deep in poverty and for those who are handicapped.
3.
Significant Cuts
on Women’s Healthcare
Planned Parenthood,
a nonprofit organization that provides reproductive health care, funded by the
federal government will face funding cuts. Most hospitals are likely to suffer
too as ObamaCare reduced the fee written off from uninsured patients, with
unpaid bills.
4.
Removing Fines for Uninsured Patients
ObamaCare issued
fines for uninsured individuals and forced compensation out of large companies
to cover the costs. The fines will be removed under TrumpCare; however,
insurance companies can charge patients 30% premiums if payments are allowed to
lapse for 63 days or more.
5.
Introduction of Tax Credits
According to
Republican supporters, TrumpCare will rely on the market and not on
government control to offer healthcare.
On the basis of
the individual’s income and age, refundable tax credits will be introduced to
help Americans buy insurance. People
over 60 years can claim $4,000 while individuals under 30 can receive $2,000
annually. The wealthiest divisions of the society will not be eligible for
availing tax credits. Additionally, critics point out that TrumpCare may cause
inland revenues to write off checks to people who do not pay the required
amount in tax.
Some important
points of ObamaCare will remain the same. For example, young adults under the
ages of 26 will still be allowed to stay on their parent’s plan. Trump’s health
care proposals aligns older conservative views. The initial costs are set to be
high because repealing the entire Affordable Care Act includes subsidies,
regulations and taxes.
Trump intends on
solving the problem by using changing policies regarding immigration reforms,
economy and taxes. However, he still hasn’t provided concrete details on how he
intends on solving major issues related to health care policies and
improvements
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