U.S. President Donald Trump will hurt low-income Americans by doing away with Obamacare subsidies and make it harder for him to engage in bipartisan talks with Democrats as Congress edges toward a possible government shutdown, lawmakers said on Sunday.
The White House has announced that the Republican administration will stop paying billions of dollars to insurers to help low-income consumers meet out-of-pocket medical expenses, as part of the president's step-by-step effort to dismantle the Affordable Care Act, Democratic former President Barack Obama's signature health care law.
The expected loss of cost-sharing subsidies, estimated to be worth $7 billion this year and $10 billion in 2018, has prompted worries about insurance market chaos and undermined the prices of insurer and hospital company shares.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.