As part of President Trump’s healthcare policy, an instant cessation of making cost-sharing reduction payments to health insurers was announced. The reaction was that health insurance and health care share prices declined. The Republicans are implementing a new Healthcare Policy that removes compulsion to buy a healthcare insurance, and gives subsidies to patients who have pre-existing conditions.
These changes are required because when compared with other similar countries, the US is spending substantially more for lower levels of healthcare.
Trump stops insurer payments
According to CNBC, President Trump said on Thursday that the government would immediately stop making cost-sharing reduction payments to insurers who sell Obamacare health plans. After this announcement, the shares of health insurers and hospital operators plunged. This announcement is a part of the new health care policy of Trump administration that includes giving permission to insurance companies to sell across state lines, stopping Medicaid grants, creating a sick pool, and cutting down healthcare litigation.
Strong implementation of policies is required.
New healthcare means well
Trump administration brings helpful healthcare policies. At the outset, the policy cuts the budgetary deficit. Further, the policies will remove the compulsory need that Americans either have health insurance or incur a penalty when they pay taxes. Another aspect of the new policy is that it seeks to increase the contribution to a Health Savings Account from $3,400 to $6,550 for people. Moreover, if a person has a preëxisting condition and faces a lapse in insurance coverage, he will be offered a subsidy to help pay for insurance. Also, to make healthcare more affordable, the new policies proposes to cancel taxes on medical devices, health insurance plans, and prescription drugs.
The US must improve healthcare
The US healthcare system requires serious reforms. When compared with peer countries, even though other countries are spending substantially less on healthcare, the average person in the US has a shorter life span and that too in relatively poorer health. Even now the United States has suffered from weak healthcare policies for last thirty years, and this has increased the pain of Americans from sickness and injury at very high health care service rates. It is in this background that Trump administration is pushing through its new healthcare policy to ameliorate the health of Americans.