Fans of Bernie Sanders’ plans for universal health care might be surprised to hear this.
Not only has the booming Trump economy increased the quality of life for Americans, but new data from the White House shows that executive action by President Donald Trump’s administration will directly help more people get affordable health insurance.
That’s the takeaway from a report released by the White House Council of Economic Advisers (CEA) this month. It argues that the gains will stem from the deregulation of short-term limited-duration health insurance plans, association health plans (AHPs), and health reimbursement accounts (HRAs).
Over a million previously uninsured predicted to get coverage
According to the report, “Though these plans are more limited in coverage than the ACA-compliant insurance plans, they are priced at up to 60 percent less than the unsubsidized premium cost of ACA exchange plans and give consumers more insurance protection than being uninsured.”
It adds that “the U.S. Congress’s Joint Committee on Taxation estimates that over the next decade, roughly 5 million more people are projected to be enrolled in AHPs or short-term plans.”
“Of this increase, almost 80 percent constitute individuals who would otherwise have purchased coverage in the small-group or nongroup markets,” CEA members continue.
According to the CEA, “The remaining 20 percent (roughly 1 million people) are made up of individuals who are projected to be newly insured as a result of the rules.”
“The Treasury Department estimated that 800,000 employers are expected to provide HRAs after being fully ramped up. In addition, it is estimated that there will be a reduction in the number of uninsured by 800,000 by 2029. From these employers’ HRA contributions, it is expected that firms will cover more than 11 million employees with individual health insurance by 2029,” the report continued.
Trump touts improvements
Trump has spoken about the need to make health insurance more affordable, mentioning it earlier this year in his State of the Union address.
“Before I took office, health insurance premiums had more than doubled in just five years. I moved quickly to provide affordable alternatives,” he stated.
Trump went on to boast of their affordability, insisting, “Our new plans are up to 60% less expensive — and better.”
Making health insurance more affordable has important political ramifications. A survey published by Politico in January found that lowering the cost of health insurance was a major concern among both Democrats and Republicans.