Following an Executive Order that will increase junk insurance plans, news follows that President Trump will immediately end cost-sharing payments and destabilize health insurance markets
Concord, NH — Yesterday, President Trump issued a new executive order that will expand the availability of junk insurance plans in a direct attempt to trigger the collapse of the entire private health insurance market and destroy the Affordable Care Act (ACA). Last night, the Trump administration signaled that it would also immediately end cost-sharing reduction payments to insurance companies, which analysts and advocates agree will destabilize health insurance markets in New Hampshire and across the nation.
Statement from Granite State Progress Executive Director Zandra Rice Hawkins:
“These partisan, political acts are part of Trump’s relentless campaign to sabotage the ACA by forcing premium increases, creating instability in the market, actively interfering with the ability of consumers to sign up for coverage, and rolling back the contraceptive coverage mandate. These actions threaten the collapse of the entire individual health insurance market and leave our sick and most vulnerable to pay the price.”
“For years, Trump and Congressional Republicans have called for the repeal of the health care law without offering any viable replacement. Trump is now bent on destroying the one health care law that allowed millions of Americans to gain health insurance and improved coverage for essential health care benefits like maternity, mental health, and prescription drugs. Trump is stripping these important consumer protections and ending critical payments that help millions of lower-income Americans afford coverage. Any problems in our health care system from here on out rest solely at the feet of President Trump and other politicians who have created instability and skyrocketing premiums, and allowed the sale of junk plans without the essential health coverage people need when they are sick.”
In a letter to President Trump in August, Governor Chris Sununu called for Trump to continue the cost sharing reduction payments. One of the main requests in the letter:
“Commit to funding CSR reimbursements for 2017 and 2018: Carriers calculate their rates far in advance, so continued uncertainty about the reimbursements fuel dramatic increases and could lead them to exit the market. This hurts consumers – most of all, those who cannot get coverage through work and do not qualify for federal subsidies. While I am sympathetic to the argument that these payments are a subsidy, to withhold them at this late date as carriers are trying to calculate rates is resulting in significant instability and further rate increases and fewer options.”
Granite State Progress is a progressive advocacy organization that addresses issues of immediate state and local concern. Granite State Progress works as a communications hub for the progressive community to provide a strong, credible voice in advancing progressive solutions to critical community problems.