October 13, 2017 | Category: Health Insurance, News

With the new health care rollout by the Trump Administration your health care plans may have changed for you and your employees.

The Trump Administration has just signed an executive order health care in the Roosevelt Room at the White House on Thursday. Following the removal of the birth control mandate for employers, Trump has also made it stop cost-sharing reductions (subsidies).

The president signed the order to make it easier for individuals and small businesses to buy alternative types of health insurance at lower prices, with fewer benefits, and weaker government protections. Premiums will increase in 2018, and here’s why:

If Trump ends payments to these subsidies, ending the payments is grounds for any insurer to back out of its federal contract to sell health plans for 2018. These payments go to insurers (employers) that are required by the laws currently enacted by ObamaCare to help eligible consumers afford their deductibles and other out-of-pocket expenses.

Currently, the fifth year’s open-enrollment season for consumers to buy coverage through Affordable Care Act exchanges will start in a little less than three weeks, and insurers have said that stopping the cost-sharing payments could be one of the biggest steps by the Trump administration to repeal the healthcare plan and dismantle many of the marketplaces.