Michigan health insurer says premiums will rise if White House pulls cost-sharing subsidies
President Trump has made no secret of his desire to repeal the Affordable Care Act (ACA).
“You know, I said from the beginning: Let Obamacare implode,” Trump said late last week after the Senate failed to repeal the ACA.
But is the president letting Obamacare implode, or is he making it implode?
Trump threatened on Twitter to end the cost-sharing reduction subsidies – money that helps poorer Americans buy health insurance on the ACA exchanges.
Rick Notter, director for individual business at Blue Cross Blue Shield of Michigan, joined Stateside today to explain how insurance companies are feeling about the political climate surrounding the health insurance industry.
“Well, the best word might be, ‘nervous,’” he said.
He said that’s largely thanks to the uncertainty around what will actually happen, and if the president will indeed end those cost-sharing reduction subsidies.
“If those go away this month, that would cost us literally tens of millions of dollars,” Notter said. “Which we would then have to increase the premiums to offset that.”
Listen above to learn what losing these subsidies would mean for low-to-moderate-income families who rely on them. You’ll also hear why some carriers have threatened to pull out of the market, and what effect that could have on some areas of the country.