Did You Know?
- The US spends 2x more on healthcare than any other developed nation in the world--
- Costs will go up even more under the AHCA (Trumpcare).
- Republican politicians have campaigned on repealing President Barack Obama's healthcare reforms since they were enacted in 2010.
- The current version of Trumpcare in the Senate allows the largest tax cuts to the wealthy in human history while cutting insurance to about 22 million people by 2026.
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| Courtesy of Peter G. Peterson Foundation |
Obamacare VS Trumpcare:
Individual Costs:
- Obamacare (ACA): All Americans are required to have health insurance or pay a tax penalty.
- Trumpcare (AHCA): The mandate is repealed under the Senate plan.
Employer Costs:
- Obamacare: Companies with more than 50 employees are required to offer health insurance or pay a penalty.
- Trumpcare: Employers do not have to offer healthcare to their employees.
- Affects more women than men in most cases --(i.e: Birth control, Maternal Care, Abortions, Child birth, etc.)
Taxes:
- Obamacare: Raised Medicare taxes on the wealthy--a household income of more than $250,000.
- Imposed new taxes on:
- Medical devices
- Health insurers
- Drug companies
- Investment income
- Tanning salons
- High-end health insurance plans
- Trumpcare: Repeals most Obamacare taxes and delays implementation of the tax on high-end health insurance plans to 2026.
- Gives the largest tax cut to wealthiest members of society, while adversely affecting low-income members of society.
- Example: Warren Buffet (CEO of Berkshire Hathaway) will claim $700,000 in tax cuts.
- Low-income members will have to eventually pay half their income on just healthcare.
Insurance For Dependents Under 26:
- Obamacare: Requires insurers to allow children under age 26 to be covered by their parents’ policies.
- Trumpcare: Maintains this requirement.
Essential Health Benefits:
- Obamacare: Requires all insurance plans to cover certain health conditions and services:
- Emergency room visits
- Cancer treatment
- Annual physical exams
- Prescription drug costs
- Mental health counseling
- Trumpcare: Allows states to define what benefits are mandated, or opt out of the requirement entirely.
Pre-Existing Condition Coverage:
- Obamacare: Prohibits insurers from denying coverage or charging more to individuals who have pre-existing medical conditions (Asthma, Heart conditions, Depression, Anxiety [Mental Health] etc).
- Trumpcare: States can let insurers charge as much as they like to sick people--
- Allocates only $8bn to help subsidize those patients.
Medicaid:
- Obamacare: Expanded Medicaid health insurance for the poor to cover more low-income individuals.
- Trumpcare: Phases out Medicaid expansion to reduce federal funding on the program starting 2020.
- The Congressional Budget Office (CBO) has yet to score how much the government would save.
- the House bill saved more than $800bn in 10 years
- Senate bill makes even sharper cuts.
Women's Healthcare:
- Obamacare: Insurance companies prohibited from charging women more than men for the same health plan
- They also must provide core services including maternity care and contraceptives.
- Trumpcare: Insurance companies still banned from charging women more
- BUT, states could allow insurers to drop maternity care and contraceptives from basic benefits.
- Also bans women from using federal tax credits to buy a plan that covers abortion.
Older Americans:
- Obamacare: Insurers can charge older Americans no more than 3x the cost for younger Americans.
- Trumpcare: Insurers can charge older Americans 5x as much as younger Americans.
- States can also set their own ratio.
Subsidies:
- Obamacare: Provided refundable tax credits for low-income individuals who purchased their insurance on government-run marketplaces
- Also helped support some out-of-pocket medical expenses.
- Trumpcare: Alters formula for tax credits, which will expand the benefit to more middle-class Americans
- Will raise the costs for some elderly and low-income individuals.
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| Courtesy of BBC News |
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