GOP and President Trump Meet With Health Insurance CEOs On Obamacare Repeal, Health Insurance Plans
During a meeting last week with top health insurance CEOs at the White House, President Donald Trump was intent on winning their support for a Republican health insurance plan replacement for Obamacare (ACA). As part of the meeting, Trump had a dire prediction to offer them.
On hand for the meeting were the top executives from Aetna, Cigna, Humana, UnitedHealth, Blue Cross Blue Shield, Kaiser Permanente and Anthem, along with Health and Human Services Secretary Tom Price.
“2017 is going to be a catastrophic year for Obamacare for patients,” Trump told the assembled executives.
He added that he believes current public health care exchanges are “going to absolutely implode.”
Trump pointed to rising premiums as the crucial factor guiding his assessment.
With premiums on the rise for all insurance policies over the course of the last few years, experts said they’re convinced the hikes for Obamacare were due in part to artificially low initial pricing for the policies.
“We have a plan that’s going to be fantastic. A very competitive plan, costs will come down, health care will go up very substantially. People will like it a lot. It’s going to be special. I think you’re going to like what you hear,” Trump told the insurance executives.
While some leaked versions of what are reputed to be GOP plans to repeal and replace the ACA are said to focus heavily on tax credits and health savings accounts – while simultaneously cutting subsidies and Medicaid funding – they are also aimed at removing employer and individual mandates which currently require providing and carrying health insurance.
But that leaves some Americas feeling worried about the replacement options. Polls have shown that, as of last year, only 12 percent of Americans had any level of confidence in health insurance companies. The NBC/WSJ poll also said that 54 percent of respondents said they had “very little” or “none at all.”
According to Congressional Budget Office estimates, some 22 million Americans will lose their health insurance if Obamacare is repealed, but so far, the White House hasn’t responded in detail to requests for comment.
The insurance industry trade group AHIP said they remain confident that the GOP can come up with a viable plan.
“The Administration has taken several recent steps to demonstrate its commitment to a stable, effective transition that works for consumers, and we look forward to Congress taking additional, much-needed action soon. We are committed to working with the Administration and Congress to improve health care for every American.”