President Trump is expected to announce on Friday that he will end subsidy payments to insurers who rely on the funding to reduce out-of-pocket costs for millions of low-income ObamaCare customers, two people with knowledge of the matter told Politico.
The subsidies are estimated to cost $7 billion this year, and under the law, insurers still must provide cheaper rates to members even if they no longer receive federal funding. Because Congress has not taken steps to appropriate funding for the subsidies, usually paid out by the executive branch, they may stop immediately. Over the last several months, Trump has threatened to cut off the payments, which he called a "bailout" for insurance companies, and insurers have already raised prices to prepare for this possibility. Earlier in the day, Trump signed an executive order that lets customers buy short-term policies.
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.
-
Marisa Silver’s 6 favorite books that capture a lifetimeFeature The author recommends works by John Williams, Ian McEwan, and more
-
Book reviews: ‘We the People: A History of the U.S. Constitution’ and ‘Will There Ever Be Another You’Feature The many attempts to amend the U.S. Constitution and Patricia Lockwood’s struggle with long Covid
-
Philadelphia’s Calder GardensFeature A permanent new museum
-
FDA OKs generic abortion pill, riling the rightSpeed Read The drug in question is a generic version of mifepristone, used to carry out two-thirds of US abortions
-
RFK Jr. vaccine panel advises restricting MMRV shotSpeed Read The committee voted to restrict access to a childhood vaccine against chickenpox
-
Texas declares end to measles outbreakSpeed Read The vaccine-preventable disease is still spreading in neighboring states, Mexico and Canada
-
RFK Jr. shuts down mRNA vaccine funding at agencySpeed Read The decision canceled or modified 22 projects, primarily for work on vaccines and therapeutics for respiratory viruses
-
Measles cases surge to 33-year highSpeed Read The infection was declared eliminated from the US in 2000 but has seen a resurgence amid vaccine hesitancy
-
Kennedy's vaccine panel signals skepticism, changeSpeed Read RFK Jr.'s new vaccine advisory board intends to make changes to the decades-old US immunization system
-
Kennedy ousts entire CDC vaccine advisory panelspeed read Health Secretary RFK Jr. is a longtime anti-vaccine activist who has criticized the panel of experts
-
RFK Jr. scraps Covid shots for pregnant women, kidsSpeed Read The Health Secretary announced a policy change without informing CDC officials
