Affordable Care Act + Trump + You
We're getting a lot of questions about Trump's recent changes and how they will affect our clients, if at all. Trump recently signed an order giving agencies permission to loosen the regulations and allow for the sale of less-comprehensive health plans. According to the Wall Street Journal, the Administration's actions are "...aimed at providing lower-cost options and fostering competition in the individual insurance markets."
Putting politics aside, we asked Steve Downey for his thoughts on this particular Executive Order:
"This is good news.
President Trump announced his intention to relax some rules that would allow insurance companies authorized in one state to operate as a multiple employer's trust in other states. He also relaxed the mandatory requirements of the ACA plan structures.
Some of these rules were first established in the 30’s as a result of the Great Depression and others are stemming from the Affordable Care Act - many of which restrict pricing and options. Now that we are in a current state of a depression of competition and heavy burdens from these laws, this announcement could relieve some of the high cost of health care insurance."
The above-referenced Order also allows for expanded access to short-term health plans.
Trump recently issued another Executive Order on Health Care that stopped the funding of cost-sharing reductions for those with Silver plans. Both orders have been in the news recently and both target different areas of ACA (Obamacare) regulations.
Can You Still Enroll in Obamacare?
As of today, in California, the open-enrollment period for Obamacare begins on 11-1-17 and ends 1-31-18. If you have further questions on the proposed legislative changes or enrolling in or changing a plan, we're always happy to help.