President Donald Trump signed an Executive Order Thursday, seeking to bring affordable health insurance to millions of Americans by promoting flexibility, choice, and competition.
The Order assigns the Labor Department to consider how to allow groups (small businesses, possibly individuals) to buy Association plans across state lines, consider expanding coverage through short-term low-cost plans, and to consider changes to employee reimbursement accounts.
House Minority leader, Nancy Pelosi said prior to the signing of the Order that “it is a sabotage of the Affordable Care Act, and quite frankly, a real disservice to the American people.”
Pelosi opined that President Trump “knows very little about healthcare legislation.”
Supporters have long pushed for health insurance to be competitive by opening the market across state lines and using the power of numbers to buy insurance like a trade Association.
Critics have long said an Order of this type will increase premiums as the risk pool adjusts up, filled mostly with people buying insurance that have pre-existing conditions. They also say that premiums may be lower under this Order, but benefits may be reduced.
Neither side has a universal solution all can agree upon, but this Order certainly marks the first steps in President Trump making good on his campaign promise to dismantle Obamacare.
The administration cites that it could take over six months to take effect. Congress has already given up on the notion of repeal/replace of Obamacare in 2017, and while President Trump can’t repeal the Act himself, today’s Order proves he is willing to push his administration to update guidance and expand how the law is implemented.
How the agencies will adjust to change the current regulations as ordered by the President will become clear over time, stay tuned.
National Association of Realtors President, William E Brown tells The Real Daily, “Today’s White House announcement is an important part of the work to expand health coverage opportunities. Association Health Plans have long offered promise for small business owners and self-employed individuals seeking affordable health coverage.”
Brown concludes that they are “reviewing the specifics of the proposal to determine the promise that it may offer self-employed individuals, like real estate professionals.”
