While President Trump was away on his Holiday retreat at Mar-a-Lago still had time to tweet about a prediction he has made about the newly passed tax bill that also has a provision to repeal ObamaCare’s individual mandate and how that will essentially unravel the rest of the law and spur a bipartisan healthcare overhaul, reports Fox News.
Based on the fact that the very unfair and unpopular Individual Mandate has been terminated as part of our Tax Cut Bill, which essentially Repeals (over time) ObamaCare, the Democrats & Republicans will eventually come together and develop a great new HealthCare plan!
— Donald J. Trump (@realDonaldTrump) December 26, 2017
The Affordable Care Act’s (ACA) individual mandate dictates that everyone above the age of 26 must buy health insurance or face a fine. The dismantling of that mandate was a big win for Republicans who have been struggling to take down the whole law.
It’s unclear what exactly will come next for Trump and the Republicans. While Trump has described the mandate repeal as tantamount to the repeal of the entire law, other parts of the ACA remain in place.
What makes the individual mandate such an essential part of the program is that it is meant to ensure that young and healthy customers buy into the system to offset the cost of taking on more sick and elderly customers.
Without this require mandate, it is estimated that millions could drop out of the insurance pool since they no longer face a penalty for noncompliance.
“Official estimates predict 4 million more people would be uninsured the year the mandate repeal takes effect, and 13 million more Americans would be uninsured by about 2027,” reports Fox News.
Democrats like to say that they predict premiums rising about 10 percent because of the repeal of the mandate in the tax bill. What Democrats like to ignore though, is that premiums were already rising before the mandate passed.
Now the big question is whether the insurance markets can adjust, or whether the fallout is so significant that it spurs Congress to hammer out a more comprehensive health care overhaul.
Senate Minority Leader Chuck Schumer (D-N.Y.) has already hinted at the prospect of creating new legislation to offset the loss to health care that they have faced in the GOP tax bill.
We’ll need new legislation to account for the Republicans’ latest attempt to undermine our health care system,” Schumer said last week.