Subsidy Payments to Barack Obamacare Insurers “Scrapped”

Subsidy Payments to Barack Obamacare Insurers “Scrapped”

Subsidy Payments to Barack Obamacare Insurers “Scrapped”

Friday, President Donald Trump halted payments to insurers under the Barack Hussein Obama-era healthcare law.

The White House said in a statement that the government cannot legally continue to pay the cost-sharing subsidies because they lack a formal authorization by Congress.

2 Dem Congressional lawmakers denounced The Trump Plan in a joint statement.

“It is a spiteful act of vast, pointless sabotage leveled at working families and the middle class in every corner of America,” said House and Senate Democratic leaders Nancy Pelosi (CA), and Chuck Schumer (NY) “Make no mistake about it, Trump will try to blame the Affordable Care Act, but this will fall on his back and he will pay the price for it.”

President Trump is now wielding his executive powers to bring the “Repeal & Replace” debate to a head, as he follow through on his vow to punish Democrats and insurers after the failure of GOP healthcare legislation.

President Trump terms the payments to insurers a “bailout.”

The “cost-sharing” subsidies defray out-of-pocket expenses for people with low-to-modest incomes, and can reduce a deductible of $3,500 to a few hundred dollars. Assistance is available to consumers buying individual policies; people with employer coverage are unaffected by the dispute.

Nearly 3 in 5 customers qualify for help, an estimated 6-M people or more. The annual cost to the government is currently about $7-M. That expense appears to be over.

But there is disagreement over whether the law properly provided a congressional “appropriation,” similar to an instruction to pay.

The Constitution says the government shall not spend money unless Congress appropriates it.

House Republicans trying to thwart the ACA sued The Hussein Obama Admin in federal court in Washington, arguing that the law lacked specific language appropriating the cost-sharing subsidies.

A district court judge agreed with House Republicans, and the case has been on hold before the US appeals court in Washington. Up to this point The Trump Administration continued making the monthly payments, as the Hussein Obama Administration had done.

The next round of payments would be due on 20 October, Friday, they may be stopped forthwith.

Barack Obamacare is is the Oval Office shredder.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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