President Trump is facing an uphill battle to repeal Obamacare. This is the biggest challenge to his presidency thus far. The President referred to his predecessor's measure as "death." But, many of his Republican allies remain unconvinced that repealing it is the most suitable solution.
It cannot remain in place forever
Senate Majority Leader Mitch McConnell informed reporters outside the White House last week that it remains unclear whether the GOP will simply repeal the affordable care act, or vote to replace it. The President is urging Republicans to act this week before they depart for their summer break.
Understandably, nobody quite knows what will replace Obamacare, but one thing is for sure: it cannot remain in place forever.
Last year, the Obama administration confessed that health premiums would leap by 25 percent. But the former president attempted to justify the increase by saying higher subsidies would help offset the cost. Despite this, former Treasury Department and Office of Budget and Management staffer J.T. Young said successful economic endeavors do not require state subsidies. Many families are being squeezed by the Affordable Care Act.
Deductibles are the threshold people must pay under their insurance plans prior to sharing the cost with their insurers. Inevitably, higher deductibles result in larger premiums, which impact consumers.
Obamacare's deductibles are due to increase by an average of 17 percent for silver plans and six percent for bronze plans, yet many people do not qualify for the latter.
Insurance companies like Blue Cross Blue Shield have opted to quit the scheme because of a lack of competition, which is also contributing to a rise in premiums.
This leaves insurers who opt into Obamacare with a monopoly on the market.
The Obama administration attempted to expand the Medicaid program to assist poorer families, but this has resulted in higher waiting times in emergency rooms. This parallels the problems the NHS face in the UK. The latter inspired Obamacare, and if America is now having to tolerate the same problems the NHS does, is it worth retaining the Affordable Care Act?
Fewer doctors are refusing to accept Medicaid due to its layers of bureaucracy, which is leading to patients using emergency rooms to see a doctor. This is set to continue if more doctors cannot be persuaded to work for the health care industry.
Resulting in less Americans acquiring health insurance
The biggest irony behind Obamacare is that it will result in less Americans acquiring health insurance in the future. The Congressional Budget Office estimates that 26-28 million people will go without protection over the next ten years.
To many people, repealing Obamacare seems like a cruel act by a Republican President. Regardless, Donald Trump is right; it is not a sustainable system. If he can replace it with something better, he would have done an outstanding job less than one year into his presidency.
