This will be great for consumers!
The 20M people who were recently covered under the affordable care act will no longer get 75% of their insurance costs (average $1,000 per month, per couple) subsidized by the Government. Instead they will get an income tax credit of $3,500, which means they need to come up with the other $8,500 on their own. Of course, the tax credit doesn't do you much good if you are low-income and pay no taxes so the people who need help the most get no help at all under Trumps Unafforable Care Act.
This will not, however, just affect poor people covered by Obamacare, the low-cost option of Obamacare has kept all healthcare costs low as insurers have had to compete on price against the Government option (in states where there is one) but now that's out the window and the Private Health Care Companies can now charge whatever they want again – I'm sure it will be less, right?
They do still have to cover your pre-exisiting conditions but they get to charge you a 30% surcharge for having them. After all, it's your own damned fault if you get sick – God's will and all that. Older people can now be charged 5 times more than younger people under the same plan, another 66% increase on that little rule change.
On the bright side, the Top 1% get a 3.8% decrease on their investment income, a nasty surcharge Obama asked the wealth to pay in order to drastically lower costs for the bottom 99%. Tanning beds will no longer be taxed, another cruel Obama charge aimed squarely at the rich and well-tanned (but please, NOT colored!).
While the proposed cuts will mean higher out-of-pocket costs for those who benefit from Obamacare’s subsidies, Rep. Jason Chaffetz (R-UT) has proposed that they could make up some of the difference by not buying iPhones.
That, my friends, goes to the heart of the matter – the teardown of Obamacare will cost consumers roughly $170Bn per year and will cost states another $300Bn a year shouldering the burden of taking care of the uninsured, that $470Bn is…