Trump Obamacare move seen harming Americans, bipartisan prospects

Reuters: Trump Obamacare move seen harming Americans, bipartisan prospects

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 healthcare 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.

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