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.
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