07 Jan Obamacare’s Uncertain Future
Obamacare has been a controversial piece of legislation since it was enacted six years ago by President Barack Obama. As we have written previously, there is trouble brewing for the current legislation.
The gutting of the “risk corridors” provision by the Republican Congress means that Obamacare has become economically unsustainable for the insurance companies still in the exchanges, and it certainly makes it unlikely that any new companies will enter.
On the heels of this, Congress sent the President a bill that will remove the requirement for most people to obtain coverage and force larger employers to offer it to their employees. It also removes the government subsidies for many who purchase policies on the exchanges, eliminates the expansion of Medicaid coverage, and ends the tax imposed to cover the cost of the program. The bill also removes the $450 million in federal dollars that go to Planned Parenthood.
President Barack Obama has already indicated that he will veto the bill, but Republicans in Congress are calling it a victory. Why? With the 2016 presidential election on the horizon, each party will characterize the bill as either a victory for health care reform or an opportunity to reign in uncontrolled government spending.
Democratic front-runner Hillary Clinton has decried the legislation, while GOP candidates praise it.
“It’s up to the president to decide if he wants to side with the people whose health care costs have skyrocketed out of control or the abortion industrial complex whose profits have skyrocketed out of control,” said Speaker Paul Ryan, R-Wis. “Congress is holding President Obama accountable.”
“It’s the 62nd vote on repealing the Affordable Care Act. It has as much chance as the previous ones did,” said House Democratic Whip Steny Hoyer of Maryland. He said that Republicans “don’t have an alternative, and the reaction of the American public if they lost the benefits and protections of the Affordable Care Act would be very upset.”
At this point the future of Obamacare is unclear but one thing is certain, change is coming and you need to keep an eye on it. Make sure to bookmark our blog so that you can stay up to date on the latest developments.