A White House spokesman confirmed Wednesday that the Trump administration will make this month's payment to insurers for ObamaCare subsidies for low-income customers.
A Congressional Budget Office analysis released Tuesday estimated that if the payments were stopped, the most popular ObamaCare plans' premiums would probably go up 20 percent in 2018. President Trump has threatened to cut off the subsidies — worth about $7 billion this year — and insurers would likely hike up premiums or leave ObamaCare markets altogether if they are eliminated, Politico reports. Insurers rely on those subsidies to keep costs down for millions of lower-income ObamaCare customers, and even if the payments stop, they will still have to provide discounted rates.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What should you be stockpiling for 'World War Three'?In the Spotlight Britons advised to prepare after the EU tells its citizens to have an emergency kit just in case
-
Carnivore diet: why people are eating only meatThe Explainer 'Meatfluencers' are taking social media by storm but experts warn meat-only diets have health consequences
-
Scientists want to fight malaria by poisoning mosquitoes with human bloodUnder the radar Drugging the bugs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
