President Donald Trump claimed victory for “essentially” repealing Obamacare in the Republican tax bill that’s expected to clear the Senate on Wednesday.
The bill eliminates a tax penalty for Americans who don’t carry health insurance, a pillar of the Affordable Care Act. Insurers have warned that eliminating the requirement will cause them to raise premiums. Healthy people will have less incentive to sign up for coverage, leaving insurers with a sicker pool of customers overall, the companies and many economists and health policy experts say.
“The individual mandate is being repealed. That means Obamacare is being repealed,” Trump told reporters at the White House on Wednesday. “We have essentially repealed Obamacare.”
Trump said Republicans will come up with a “much better” replacement policy. Republican legislation to replace much of the Affordable Care Act failed earlier this year.
(Source: Bloomberg)