President Donald Trump just saved American taxpayers hundreds of billions of dollars and dropped the hammer on former President Barack Obama’s signature act.
As noted by Breitbart, a study from the White House found that Trump’s Obamacare reforms will save Americans roughly $450 billion over the next ten years.
The White House Council of Economic Advisers study stated that Trump repealing Obamacare’s individual mandate, expansion of short-term insurance plans, and Association Health Plans will save Americans billions of dollars over the next decade.
Here’s more from Breitbart:
The White House also suggested that the benefits of Trump’s deregulatory actions saved Americans billions, increased access to more health insurance options, and did not amount to a “sabotage” of the Affordable Care Act (ACA).
President Trump signed an executive order in October 2017 which expanded short-term limited-duration health insurance plans.
Short-term plans allow for Americans to keep their plans for up to 364 days and to renew their plans for up to three years. Because short-term plans do not have to comply with many Obamacare insurance regulations, insurance companies can offer more customized and cheaper plans compared to the individual market.
Trump also expanded AHPs, which offer businesses and workers more affordable health insurance options. AHPs are health insurance pools sponsored by an industry, trade, or professional association that provides health coverage to their members.
Land O’ Lakes, which created the nation’s first AHP, said that their plans were roughly 50 percent less expensive compared to Obamacare plans.
The CEA estimated that five million Americans will choose an AHP or a short-term plan as the result of the Trump administration’s health care executive orders. The study also suggested that another five million will benefit as the result of the repeal of Obamacare’s individual mandate.
Many Americans have contended that because 80 percent of those who paid the Obamacare mandate made less than $50,000 a year, the individual mandate repeal serves as a significant middle-class tax break.
That’s a massive savings for Americans and can be funneled into helping address problems in the nation.
Trump’s historic deregulation hasn’t “sabotaged” the ACA, but has actually opened up the markets to offer Americans more healthcare options, like short-term plans that have proven to be more affordable and effective.
Additionally, these plans are not legally required to comply with the stifling Obamacare insurance regulations, meaning companies can now offer more affordable plans to Americans that they can customize to better fit their needs.
Trump’s repeals also give businesses more options, which can be a gigantic help to small and medium-sized businesses.
In the end, Trump slowly dismantling Obamacare is not only saving taxpayers hundreds of billions of dollars, it’s offering Americans cheaper and better insurance plans.
The president is saving money and helping Americans at the same time.