Trump's replacement for ACA

[MrPotatoChip]

Tax credits:

Under 30: $2,000
30 to 40: $2,500
40 to 50: $3,000
50 to 60: $3,500
Over 60: $4,000

For every dollar you make over $75,000 or $150,000 for married, you lose 10% (or 10 cents) from the tax credit.

No pre-existing conditions remains as does no annual or lifetime caps

No Mandate, however, premiums will be 30% higher if you have a break in coverage.

Children under 26 will still be on parents health insurance.


I LOVE this plan. I will be able to afford health coverage in 2018 after two years of not being able to afford coverage.

YESSSS, I will have health coverage in 2018. I am so happy.

[Midpack]

It's been enacted already?

[ER Eddie]

Yeah, just got unveiled.

So this would do away with the subsidies, I mean apart from the tax credits?

p.s. Yup. "Over the next three years, Obamacare taxes, penalties, and subsidies will be repealed."

I suppose that was to be expected. But it will affect some ER folks.

[MrPotatoChip]

Quote:

Originally Posted by ER Eddie So this would do away with the subsidies, I mean apart from the tax credits?

$4,000 a person and you want more?

That is $4,000 more than I had before. Now I can afford health coverage after two years.

[exnavynuke]

What source are you getting this from? The only articles I can find say that what you mention is similar to some of both of the two separate bills House committees are talking about this evening but far from a "done deal" as neither is likely to pass the Senate in their current form (at least 4 Republican Senators have stated they wouldn't accept some of the provisions in the current drafts and the GOP needs at least 2 of those in order to have a chance at passing any ACA replacement in the Senate).

Quote:

House committees are expected to take up the legislation later this week.

http://www.usatoday.com/story/news/p...bill/98826894/

[Midpack]

Quote:

Originally Posted by MrPotatoChip It is the GOP proposal to replace that awful Obamacare. This proposal sounds great. I am sure that it will pass.

I'll be very surprised if they kill the individual mandate, that's campaign rhetoric - makes costs for participants higher, could be a lot.

But he's also proposed competition across state lines and negotiating with drug companies - both could help reduce costs. But we're a long way from a replacement...

And then there's deductibles.

[brewer12345]

.

[exnavynuke]

Quote:

Originally Posted by ER Eddie Yeah, just got unveiled. So this would do away with the subsidies, I mean apart from the tax credits? p.s. Yup. "Over the next three years, Obamacare taxes, penalties, and subsidies will be repealed." I suppose that was to be expected. But it will affect some ER folks.

Yep. Pretty much every GOP plan discussed recently gets rid of subsidies by renaming them and changing the method of delivery of the subsidies...

[aaronc879]

This is why I went back to full time W2 income last week. If I was still low income self employed then I would be paying about $2000 in premiums instead of the $600 I paid last year on a $17,000 AGI. This proposal isn't as bad as I expected but not good for low income people. I suppose there will no longer be cost sharing either. That means someone with an income like mine last year would be paying $2000+ in premiums and $5000+ deductible and OOP Max on a $17,000 income. That is going to cause some problems. Looks like a lot more people will be without insurance. A lot more people getting free emergency care because they don't have insurance. This plan will cause at least as many problems and it fixes.

[MrPotatoChip]

Quote:

Originally Posted by Midpack If they kill the mandate, costs will increase, so I'd be surprised if it's that simple. But he's also proposed competition across state lines and negotiating with drug companies - both could help reduce costs. But we're a long way from a replacement...

It is that simple. Have a break in coverage, your premiums will be 30% higher.

No 1095A, no complex tax equations for the subsidy, no mailing in your estimated earnings for the next year to get an exemption.

It is that simple.

[ER Eddie]

Quote:

Originally Posted by MrPotatoChip $4,000 a person and you want more? That is $4,000 more than I had before. Now I can afford health coverage after two years.

Good, I'm glad for you. I thought the Obamacare subsidies were more, but I guess I'm mistaken. I'm not involved in ACA (still working). I was looking at it as a possibility down the road, though.

[Ronstar]

This thread is being closed. Please post in the http://www.early-retirement.org/foru...ml#post1847998 thread, refraining from partisan political commentary.